Ticker	Volume	Price	Price Delta
DJIA	15,354.40	+121.18	0.80%
S&P 500	1,667.47	+17.00	1.03%
Nasdaq	3,498.97	+33.72	0.97%

Ticker

Volume

Price

Price Delta

DJIA

15,354.40

+121.18

0.80%

S&P 500

1,667.47

+17.00

1.03%

Nasdaq

3,498.97

+33.72

0.97%

Ticker	Volume	Price	Price Delta
STOXX 50	2,817.99	+11.29	0.40%
FTSE 100	6,723.06	+35.26	0.53%
DAX	8,398.00	+28.13	0.34%

Ticker

Volume

Price

Price Delta

STOXX 50

2,817.99

+11.29

0.40%

FTSE 100

6,723.06

+35.26

0.53%

DAX

8,398.00

+28.13

0.34%

Ticker	Volume	Price	Price Delta
Nikkei	15,138.10	+100.88	0.67%
Hang Seng	23,082.70	+38.44	0.17%
S&P/ASX 200	5,180.77	+15.11	0.29%

Ticker

Volume

Price

Price Delta

Nikkei

15,138.10

+100.88

0.67%

Hang Seng

23,082.70

+38.44

0.17%

S&P/ASX 200

5,180.77

+15.11

0.29%

Macau To Strengthen Casino Junket Licensing System

By Vinicy Chan & Billy Chan - 2013-02-07T05:21:00Z

Macau’s government said it will “strengthen” its licensing system for casino junket operators and work with law enforcement to tackle gambling-related crimes.

The government “has continuously adjusted and improved the system, particularly the regulations,” Francis Tam, secretary for economy and finance, said in a statement on a Macau government’s website today, without providing details on any plans.

Macau stocks slumped yesterday after the U.K.’s Times said China plans to crack down on junket operators. Junkets are middlemen who identify high-rollers in China, organize their trips and offer credit, helping to drive the VIP business in the world’s largest gambling hub.

Billionaire Sheldon Adelson’s Sands China Ltd., dropped 2.2 percent percent to HK$35.50 at 1:06 p.m. in Hong Kong trading today, extending yesterday’s 5.2 percent drop. Galaxy Entertainment Group Ltd. lost 2.3 percent today, SJM Holdings Ltd. fell 4.2 percent, MGM China Holdings Ltd. fell 1.5 percent.

Tam has repeatedly said the Macau government will strengthen junket licensing and his latest comments may not signal a tougher stance or added scrutiny, Gabriel Chan, a Hong Kong-based analyst at Credit Suisse said by phone.

“The sell-off is overdone,” said Chan. “I don’t see a junket crackdown looming.”

Renewing Licenses

Casino junkets are required to renew their licenses with the Gaming Inspection and Coordination Bureau every year and they must fulfil the requirements set by the bureau.

The number of licensed VIP gaming promoters rose 7.3 percent to a record of 235 companies and individuals in 2013, according to annual data released by the bureau last month.

The selloff in gaming stocks offers a buying opportunity, Grant Govertsen, a Macau-based analyst at Union Gaming Group said in an interview with Bloomberg Television today.

To contact the reporter on this story: Vinicy Chan in Hong Kong at vchan91@bloomberg.net

To contact the editor responsible for this story: Anjali Cordeiro at acordeiro2@bloomberg.net

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