Stocks of US-based Macau casino operators rose following a US-China tariff ceasefire and positive comments from the city’s CEO, easing worries about geopolitical risks and regulatory uncertainty in the region.
US casino companies in Macau have been concerned about global trade concerns, but stock prices have increased as a result of the recent US-China tariff ceasefire.
The announcement this week that Beijing and Washington had reached an agreement to halt tariff increases for 90 days caused shares in US-based Macau casino firms to rise.
Three of Macau’s Big 6 casino concessionaires, Wynn Resorts, Las Vegas Sands, and MGM Resorts, had their share values increase by about 8%, 7%, and 5% on Monday, according to Investopedia. The S&P 500 had a 3% gain that day.
Also Read: Fanduel Pushes Down on Rg Focus With the Arrival of Real-time Deposit Monitor
The CEO provides reassurance
The remarks made by Macau Chief Executive Sam Hou Fai may also comfort the units that face Asia. Sam said during a news conference on Tuesday that American operators operating out of Washington will not face consequences from the Chinese special administrative zone.
According to him, “[the operators] are protected and supported” by the SAR “so long as they follow Macau’s laws and conduct their activities in an orderly and lawful manner.”
Courtesy: https://igamingexpert.com/, https://www.igbnorthamerica.com/, https://gamingamerica.com/news/
Since no one matched all six numbers on Saturday night, the Powerball prize has increased…
Kalshi and Polymarket, two large financial firms looking to maximize their profits, have unleashed unregulated…
Gov. Janet Mills approved a bill that permits online gaming, making Maine the eighth state…
The first state to file a lawsuit against Polymarket is the Nevada Gaming Control Board…
Late on Friday, the Nevada Gaming Control Board provided Nevada licensees with further policy guidelines…
In an effort to potentially expand one of the most limited legal sports betting markets…