Most Macau Casino stocks are rebounding. As of the time of writing, MGM CHINA (02282) rose by 4.17%, reporting HKD 10.48; PARADISE ENT (01180) increased by 3.57%, reporting HKD 0.87; WYNN MACAU (01128) saw a rise of 2.24%, reporting HKD 5.48.
According to Zhizhong Finance APP, most Macau Casino stocks have warmed up. As of the time of publication, MGM CHINA (02282) rose 4.17% to HKD 10.48; PARADISE ENT (01180) rose 3.57% to HKD 0.87; WYNN MACAU (01128) rose 2.24% to HKD 5.48; MELCO INT'L DEV (00200) rose 0.71% to HKD 4.27.
In terms of news, the Thai Prime Minister's Office issued a statement on January 13, indicating that Prime Minister Prayut Chan-o-cha stated that the Thai Cabinet has in principle approved the draft of the "Entertainment Venue Operation Act," which will be submitted to Parliament for review. This bill aims to legalize Thailand's underground gambling industry and allow the establishment of entertainment complexes and casinos to generate tax revenue.
Macquarie previously noted in its Research Reports that the Thai government is promoting legislation that allows casinos to operate locally, and the bill is expected to pass next year. The report stated that GALAXY ENT, MGM CHINA, Las Vegas Sands, and Wynn Resorts have all expressed interest in operating in Thailand, while SJM Holdings intends to focus on operations in Macau, as its priority remains enhancing its Grand Lisboa business. The report quoted industry experts stating that benefiting from Thailand's strong tourism industry, Thailand has the potential to become Asia's second-largest Gambling market, but is expected to lag behind Macau.
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