An announcement by the Chinese government this week, saying that there is to be a hold placed on the licenses being granted for new casinos in Macau, the Chinese territory formally held by the Portuguese, shares of these casinos already operating in that region, climbed.

It was reported by the Associated Press that Edmund Ho informed Chinese lawmakers that no additional casino concessions or sub-concessions would be granted in the near future. At the same time, he let it be known that the government was cutting back on the expansion of present casinos through non-approval of any new applications from the territory's 28 casinos for added gambling tables or slot machines.

This news is considered good by those companies that currently have a toehold in the thriving gambling enclave that is located 40 miles west of Hong Kong. The companies that already are well ensconced in Macau include the Las Vegas Sands Corp., MGM Mirage and Wynn Resorts.

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