Asian gaming-related stocks including Genting Singapore may move ahead of a vote on a casino bill in the Upper House of the Japanese parliament. * The bill to legalize gaming resorts in the country is set to clear the Diet on Friday after being approved by an Upper House panel on Thursday, Kyodo reported * The bill is then be set to be endorsed by Prime Minister Abe’s Liberal Democratic Party, coalition partner Komeito and opposition Japan Innovation Party before the current Diet session closes Sunday, Kyodo said
Here is a list of stocks that may move: ** Japan: Orix, Sega Sammy, Fuji Media, Konami, Glory, HIS, Japan Cash Machine, Universal Entertainment, Oriental Land ** Macau: Wynn Macau, Sands China, Melco International Development, MGM China Holdings, Galaxy Entertainment Group, SJM Holdings ** Southeast Asia: Genting Singapore, Bloomberry Resorts * SMBC Nikko expects “major earnings impacts” for companies selected to operate integrate resorts and related businesses in Japan, where the government’s plan to limit the number of facilities will give participating firms a “virtual monopoly”
** Osaka City is viewed as “a leading candidate” to host an IR, analysts led by Masashi Akutsu wrote in a report dated July 13 * Related stories: ** July 18, Casinos Face Last Milestone in Japan on Road to Legalization ** June 1, License Renewal Raises Caution on $10 Billion Japan Casino Bet: Bloomberg Intelligence
