IEC shines amid speculation it could become Macau star

    Published in: Latest IntelligenceInternational Entertainment Corp (1009.HK), controlled by Hong Kong business tycoon Henry Cheng Kar-shun, defied overall weakness in the gaming sector to gain 23 percent this week amid speculation the businessman could benefit once Macau’s current gambling licenses expire in 2020.IEC’s gains were the biggest among the Asia-listed casino stocks on our radar this week.Hong Kong media reports, citing “authoritative sources printed that “the six existing gaming licenses in Macau may be renewed every five years, instead of the current 20 years initiating a downwards spiral of the stocks. The central government will also take the Sino-US relationship into consideration when renewing licenses, the reports said. (AGB gives absolutely no credit to the reports and questions the “authority” of the sources quoted).Most major gambling stocks fell on the news on concern a five-year renewal rate would make it hard to justify some of the major long-term investments being...

    Intelligence Articles is a premium content section developed for AGB members only featuring in-depth articles on relevant items of interest across the multiple Asia Pacific Gaming jurisdictions. To continue reading, subscribe now.