This week, shares rose of operators of casinos holding assets in Macau following the announcement by China’s enclave’s chief spokesman who claimed that it will claim a hold on new licenses for gambling. Edmund Ho, according to Associated Press reports, reported to law officials in China that in the near future no more casino concessions or sub–concessions are to be released. Also, he further claimed, no new applications will be approved by the government from the country’s twenty eight casinos for more slot machines or extra gambling tables. For firms, such as Las Vegas Sands Corp., Wynnn Resorts and MGM Mirage, already possessing an asset in the soaring gaming enclave situated forty miles west of Hong Kong, the remarks were considered propitious. Posted on: May 5, 2008
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