Macau casino licenses are extended until the end of the year

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Macau's government is extending gaming licenses for the six casino operators in the city. The decision will take some pressure off the Macau sector and the six operators who have not yet submitted their formal applications.

Macau Secretary for Economy and Finance Lei Wai Nong issued a statement on Thursday that the gaming licenses for operators in the region will be extended until December 31 from their current expiration date of June 26.

The extension will apply to Wynn Macau (OTCPK:WYNMF), Sands China (OTCPK:SCHYY), MGM China (OTCPK:MCHVF), SJM Holdings (OTCPK:SJMHF), Galaxy Entertainment (OTCPK:GXYEF) and Melco Resorts (NASDAQ:MLCO), which all have to go through a formal application process to maintain operations in Macau next year.

Macau is looking to recover to its pre-pandemic level of activity when the gross gaming revenue haul of $36.5B was 7X the amount generated on the Las Vegas Strip.

Macau casino stocks popped yesterday off a report that indicated China may end its zero-tolerance COVID policy.

Comments

[Silvio spicacci minervini]

Today 17 million people are in lock down in China. How are they reopening? Wynn Macao is over

[cowboy-az]

@Silvio spicacci minervini Out of population of 1.40 billion! LVS Market value drops 12% today and is now 15% below pre covid lows when the casinos were entirely shuttered for months. Sure, this makes a lot of sense.

[Silvio spicacci minervini]

@cowboy-az everything about China is now dangerous

[Silvio spicacci minervini]

Wynn seems done. It’s finished

[freeman8201]

@Silvio spicacci minervini

WYNMF Wynn Macau, Limited

MCHVF MGM China Holdings Limited

Are both trading as if they were pink sheets on the Hong Kong exchange.
Melco dropped -15% today on nyse

[Silvio spicacci minervini]

@freeman8201 and it will not change next week. Wynn Macao is going down like a bomb even next week

[freeman8201]

Well let's hope the zero-policy ends soon.
Debt/Eq
Lvs 7.41
Mgm 4.07
Wynn -56 Wow! what wynn do sell shares?
Altman Z score lvs: 1.19, Mgm: .99, wynn .46
Wynn will be the canary if it goes belly up as the market continues to be bad in Macau. I notice lots of insiders sells in wynn corp.
Sands recent asset sell will keep it afloat for years to come. Long term shareholder from the Adelson era Long lvs

[Silvio spicacci minervini]

China is ininvestable. Let’s hope Wynn Macao gets positive facts soon

[cowboy-az]

Not what the market wanted to hear; kicking can down road does not provide the certainty that is needed.