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Bond Market News
Dollar Bonds of Macau Casino Operators Tick Higher as Ferry Services Reopen
September 14, 2022
Bonds of Macau’s casino operators are trending upwards led by Melco Resorts, Wynn Macau and Sands China. The jump in prices followed an announcement by the local government to reopen passenger ferry services between the island and mainland China from Wednesday, as per Bloomberg. The expected increase in traffic and tourism arising from the resumption of ferry services promises more activity and business for the casinos, helping their earnings. The ferry service which connected Macau with Shenzhen had been suspended since August 12 as a result of pandemic restrictions in Shenzhen. In related news, Wynn Macau has also applied for a 10-year gaming concession contract which is expected to start in 2023. This caused the casino operator’s stock to rally about 6%.
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