The government of Macao will extend its moratorium on issuing new casino licenses and allocating new land for gaming developments.
Edmund Ho, chief executive of the Macau Special Administrative Region, told legislators yesterday that the moratorium would remain in place "for the foreseeable future" in order to ease the strain on the region's social and physical structure.
Shares in Las Vegas Sands rose 9 percent and shares in Wynn Resorts rose 7 percent on the news. Both companies already have existing properties in what is not the world's largest destination in terms of gambling revenue.