Galaxy Entertainment Stock News

Former Hong Kong commerce minister Frederick Ma Si-hang has vowed to inject the city with a weekly dose of positivity with his new TV talk show that features exclusive interviews with an array of prominent figures.One of the never-before-seen moments included a sensitive display of emotion from gambling tycoon Lui Che-woo, founder of Galaxy Entertainment Group and K. Wah International Holdings, whose episode aired on Saturday evening as the first in Mas series.He showed his empathy and he

Is The Bottom In? Macau Casino Stocks Rally Most In Years After Gaming Bill Eases Concerns Shares of Macau casino operators jumped the most in six years on Monday after officials in the gaming city introduced less harsh than expected rules, removing a lot of uncertainty that could increase the sector''s valuation. Last Friday, Macau gaming officials proposed measures that would limit gaming licenses to six, and the duration of the license would be shortened to 10 years from 20. Initially, investors feared the licenses would only be five years. The rules reduce the extension periods on licenses and increase domestic ownership of casinos to 15% from 10%. Also, the tax rate of casinos would stay the same and would not require a government official to sit on the company''s board. The rule lifts a massive overhang for casino stocks that have been trashed over the past year. On Monday, casino shares listed in Hong Kong jumped as much as 12%, the most significant daily increase in six years. Wynn Macau Ltd., Sands China Ltd., and Galaxy Entertainment Group Ltd were some of the largest movers on the session.

BTFDers Unleashed: Futures, Yields, Oil Jump As Omicron Panic Eases As expected over the weekend, and as we first noted shortly after electronic markets reopened for trading on Sunday, S&P futures have maintained their overnight gains and have rebounded 0.7% while Nasdaq contracts jumped as much as 1.3% after risk sentiment stabilized following Fridays carnage and as investors settled in for a few weeks of uncertainty on whether the Omicron variant would derail economic recoveries and the tightening plans of some central banks. Japan led declines in the Asian equity session (which was catching down to Friday''s US losses) after the government shut borders to visitors. The regions reopening stocks such as restaurants, department stores, train operators and travel shares also suffered some losses. Oil prices bounced $3 a barrel to recoup some of Friday''s rout, while the safe haven yen, Swiss franc and 10Y Treasury took a breather after its run higher. Moderna shares jumped as much as 12% in pre-market trading after Chief Medical Officer Paul Burton said he suspects the new omicron coronavirus variant may elude current vaccines, and if so, a reformulated shot could be available early in the new year.

Macau Casino Stocks Tumble After Top Gambling Boss Arrested Shares in Macau casino operators fell Monday after a top gambling boss was arrested over illegal virtual betting activities, according to Bloomberg . Macau''s judiciary police announced they arrested Suncity Group Holdings Ltd. CEO Alvin Chau after he established overseas gambling platforms and carried out illegal virtual betting activities. Chau, along with others, admitted to some wrongdoing but overall declined to cooperate with authorities. In total, a group of eleven people was arrested. Chau''s arrest is the first time a high-profile casino boss has been targeted. The news sent casino shares in Hong Kong tumbling in the overnight session. MGM China Holdings Ltd. dropped 10%, while Wynn Macau Ltd. sank 7.8%. Sands China Ltd. and Galaxy Entertainment Group Ltd. fell 5%. Shares of Suncity were halted. In September, Beijing cracked down on casino operators with increased government supervision. The authorities intended to increase oversight on the world''s largest gambling hub and deter money laundering and currency outflows.

Galaxy Entertainment Group (OTCMKTS:GXYEF) was upgraded by stock analysts at JPMorgan Chase & Co. from a neutral rating to an overweight rating in a report issued on Friday, The Fly reports. Galaxy Entertainment Group stock opened at $5.83 on Friday. The firm has a fifty day simple moving average of $5.38 and a two-hundred day []