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Macau Limits New Casino Construction

STEVE INSKEEP, host:

NPR's business news starts with a boost for big casinos.

(Soundbite of music)

INSKEEP: Whatever else may be happening in the economy, Las Vegas Sands, Wynn Resorts, and MGM Mirage all enjoyed a spike in their stock prices. The reason for the investor excitement is a decision to limit construction of rival casinos in the world's largest gambling hub. We're not talking about Las Vegas. We're talking about Macau. The Southern Chinese enclave is the world's biggest gambling destination in terms of revenues.

Las Vegas Sands opened the world's largest casino there last year. MGM Mirage and Wynn Resorts also have properties in Macau. But so many other companies are building casinos, that Macau's leader is putting a freeze on new licenses, said he's concerned about social stability. He also wants companies to build more non-casino facilities please, like convention centers and retail outlets. Transcript provided by NPR, Copyright NPR.

NPR transcripts are created on a rush deadline by an NPR contractor. This text may not be in its final form and may be updated or revised in the future. Accuracy and availability may vary. The authoritative record of NPR’s programming is the audio record.