Global casino Las Vegas Sands (LVS.NYSE) has received approval from the government of Macau to add 200 highly prized gambling tables to its properties, The Wall Street Journal reported, citing sources familiar with the matter. The approval could mean more than US$500 million in additional annualized revenue, CSLA analysts Aaron Fischer and Richard Huang said, and comes just in time for Chinese New Year, the country’s biggest holiday. Government policies in recent years have capped the number of tables as well as foreign workers businesses can bring to Macau to curb explosive growth in the market.
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