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Fitch Ratings has downgraded the rating of US-listed gaming Sands China and local gaming operator SJM due to increased regulatory risk and uncertainty surrounding the future gaming concessions
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‘Fitch views the possibility of incumbent concession holders failing to secure a new concession as low, though the risk should not be ignored. The operators have invested billions of U.S. dollars in capital, are large local employers and critical government taxpayers, and have supported the local and Mainland government’s broader policy goals, such as the Greater Bay Area Initiative,’ Fitch indicated in a note.
