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Tuesday, March 16, 2010

Macau's regulation of casinos

The casino stocks with Macau exposure got hit yesterday including LVS, the one with the biggest. Macau CEO Chui was going to talk about Macau's plans, and Wall Street panicked. Now it looks like it will be a net positive.

HONG KONG, March 16 (Reuters) - Macau will seek to regulate the building of new casinos, its chief executive said, in a sign that the government is trying to temper overheating in the world's fastest-growing gambling market.

Macau Chief Executive Fernando Chui's comments could brighten the outlook for existing casino operators including Las Vegas Sands and Wynn Resorts and their locally listed units Sands China and Wynn Macau as potential curbs would help profits by limiting oversupply.

Singapore's Marina Bay Sands will be on deck in the end of April, and Credit Suisse sees great things for Singapore's tourism.

Two pluses for LVS.