Hong Kong-listed casino companies with operations in Macau plunged in Wednesday morning trade, weighed by fears of stricter regulations in the Asian gaming hub.
The Macau government released a document Tuesday that included recommendations such as only allowing gaming-license holders to distribute profit to shareholders after gaining government approval, and for government representatives to directly supervise gaming companies, among other measures. The release comes as officials are embarking on a 45-day public consultation process to revise the city’s gaming regulations.
Industry analysts expect regulatory changes to also impact licensing, which could affect the six casino companies, all of whom have licenses that are set to expire in June 2022. “We admit it’s only a ‘directional’ signal, while the level of actual regulation or execution still remains a moot point,” JPMorgan said in a note on Wednesday.
What next after Macao’s gaming industry? 😅
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