Edmund Ho Announces: No New Licenses in Macau

Wynn Casino in Macao during the daylight hours

At least three gambling companies were happy to hear the news as their stock market shares rose after the announcement. Las Vegas Sands, MGM Mirage and Wynn Resorts watched their share prices climb from 3.4 to 9.2% higher as a result of the news. Although the share price increase was a positive thing for the companies, they also took a hit in that Ho continued by saying that the government would also not be approving any additional tables or machines at the existing 28 casinos in Macau.With Macau's gambling revenues exceeding Las Vegas, it is perhaps an understatement that Ho makes when he says that the liberalization of gambling has helped improve living conditions and stabilize Macau's economy. His announcement to stop issuing licenses at this time is so that the government can "...review and estimate the development of the industry," he said.