Dollar bonds of Macau casino operators jumped over 4-8 points after the Macau government reportedly agreed to proposals that would see casino operators invest a combined MOP 100bn ($12.5bn) in the city over the next decade. Seven companies are currently vying for six 10-year licenses, and this investment is seen as a major step in determining who gets the licenses. Sands China and Galaxy Entertainment promised the biggest investments of over MOP 20bn ($2.5bn) each, as per SCMP. The other five companies that include Melco Entertainment, MGM China, SJM Holdings, Wynn Macau and GMM, backed by Genting’s Chairman Sri Lim Kok Thay, committed to invest about MOP 15bn ($1.9bn) each. JP Morgan analyst DS Kim said that the investments “suggests one big renovation or development project plus some flagship events or shows over the next decade”.
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