Wednesday, October 05, 2022

Casino stocks on two year high

Shares of Macau casino operators are at their highest in almost two years, Bloomberg reports.

The BI Macau/China Gaming Market Competitive Peers gauge rose 1.1 percent at Monday’s close.

Kenny Wen, a strategist at Sun Hung Kai Financial in Hong Kong, noted that while President Xi Jinping’s anti-corruption campaign is still a concern, it is no longer the top priority.

Some analysts however warn that the surge in casino stocks may be short lived, especially if the State Council rolls out new measures to curb capital flows.

Asia Gaming Brief is a news and intelligence service providing up to date market information for worldwide executives on relevant gaming issues in Asia.

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