Macau newcomers, Japan potential attract investor interest

    Published in: Latest IntelligenceMacau Legend Development (1680.HK) and pachinko operator Dynam Japan (6889.HK) were among the biggest movers among Asia’s gambling stocks this week, both gaining 11 percent, on optimism over a planned tie-up. Macau Legend Development (1680.HK), controlled by former lawmaker David Chow, said it will extend its memorandum of understanding with Dynam on a business cooperation for a further six months, giving it more time to iron out details. Hong Kong-listed Dynam gained to HK$29.8. That’s about 20 percent below its 52-week high of HK$36.7 on Jan. 20. “Macau Legend’s ongoing collaboration with Dynam Japan is well perceived by market participants after the Japanese firm pledged to be a cornerstone investor in the Macau Legend IPO last year,” said  Linus Yip, a strategist at First Shanghai Securities in Hong Kong. Both parties have unique operating synergies, which will strengthen their existing business and help the Japanese firm gain access...

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