Wednesday, September 15, 2021

"Macau casino stocks tumble as city proposes gambling industry crackdown"

From AFP via France 24, September 15:

Macau casino stocks collapsed on Wednesday, as officials unveiled plans for a crackdown on the gambling industry in the city known as China's Las Vegas.

Hong Kong-listed operators Sands China and Wynn Macau both suffered over 24 percent drops, while Melco Entertainment, SJM Holdings, MGM China and Galaxy Entertainment fell between 13 percent to 17 percent.

The share price tumble came as the Macau government launched a 45-day public consultation Wednesday about proposals to increase direct supervision over the gambling industry, which has faced increasing scrutiny from authorities in recent years....

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