Wynn Macau led an improvement of Macau gaming stocks on Monday, November 28th in Hong Kong, following the city’s government announcement over the weekend that its six current casino operators will acquire new licenses to operate in the largest gambling center in the world from January.
Continued stability for Macau operators:
Shares of Wynn Macau 1128.HK jumped 14.2% in early trade to end HK$4.98, their highest level since October 10th, aka their largest daily profit since October 2011.
The long-awaited licenses announcement shows stability and flow for Macau operators, who have invested more than 50 billion dollars in China’s special administrative region over the past 20 years.
On Monday, UBS wrote: “This removes a major o…