LIMITS PLACED ON MACAU LICENSES

25 April 2008

Good news for those who already have one...


Shares of casino operators with properties in Macau climbed this week after the Chinese enclave's top official said it will place a hold on new gambling licenses.

Associated Press reports that Edmund Ho told Chinese lawmakers that no further casino concessions or sub-concessions would be issued in the foreseeable future. The government also will not approve any new applications from the territory's 28 casinos for additional gambling tables or slot machines, he said.

The comments were seen as good news for companies that already have a foothold in the booming gambling enclave 40 miles west of Hong Kong, including Las Vegas Sands Corp., MGM Mirage and Wynn Resorts.

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