Shares rise for Macau casino operators
25th April, 2008
Casino operators with properties in Macau have seen their shares increase as a result of news that no more licenses will be granted for new casinos in the administrative region of China.
Located 40 miles west of Hong Kong, Macau is the only part of China which has legalised casino gambling.
Macau's chief executive, Edmund Ho, informed lawmakers earlier this week that the government will not be approving applications for extra gambling tables or slot machines, and that it will not be issuing any more concessions if sub-concessions for casinos in the foreseeable future.
Mr Ho noted that while the area's economy has been noticeably stabilised by the casinos and living conditions have been improved over the last few years, it is now important that the impact of the casinos are now properly assessed.
He said: "We're now at a stage to review and estimate the development of the industry."
In August 2007, the world's largest casino, the Venetian Resort, was opened in Macau by the Las Vegas Sands Corp.
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