Wynn and MGM Rise After Receiving New Licenses from Macau Casino Operators

Early on Monday, Wynn Macao Ltd. and MGM China Enterprises Ltd. led gains among the six Macau gaming companies who received new licenses to continue operating their operations in the gaming hotspot.
Wynn increased by up to 14%, and MGM increased by 11%. At 10:20 a.m. local time, a Bloomberg Intellect gauge of the six operators was up 4.1%. The company thought to be least vulnerable to licensing issues, Galaxy Entertainment Group Ltd., defied the trend and plummeted as much as 5.5% before cutting its loss to 0.5%. Concerns about Covid actions and Chinese protests dampened overall market confidence.

 

[GamblingBoy]

It is expected that the shares of MGM and Wynn would exponentially rise as a result of their being granted 10years licence to operate in Macau. It is rare opportunity which it's dividends had paid off already. Congrats to them.