Macau Casino Stocks Shed $18 Billion In Value As China Moves To Tighten Gambling Rules

Shares of Macau’s top casinos plummeted by as much as 33% on Wednesday—wiping out over $18 billion in market value—after Chinese government officials announced plans to tighten restrictions on casino operators that may include the appointment of a state official to supervise the companies in the world largest gambling hub.

The massive sell-off took place after Macau’s secretary for economy and finance issued a notice on Tuesday announcing a 45-day public consultation period to iron out new regulations on the gambling industry. The proposed regulations in Macau—the only place where gambling is legally allowed in China—also include the process of issuing licenses, the duration of said licenses and the level of government oversight on the industry, BloombergApart from appointing government representatives to supervise operations, the regulations also propose an increase in the local shareholdings of the casino companies.

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Hong Kong-listed Macau casino stocks sink on fears of stricter regulationsMacau hinted at tighter supervision and regulations for gaming licenses, which analysts said could cause uncertainty for casinos regarding capital management... What next after Macao’s gaming industry? 😅
แหล่ง: MarketWatch - 🏆 3. / 97 อ่านเพิ่มเติม »

U.S. Casino Stocks Fall on Fears of Increased Macau RegulationsStocks in U.S. casino companies fell after the Macau government set expectations for the future of the gambling industry there, including increased regulatory scrutiny over casino operations
แหล่ง: WSJ - 🏆 98. / 63 อ่านเพิ่มเติม »

Factbox: How Macau is revising its multi-billion dollar gaming industryMacau's government begins a 45-day public consultation on Wednesday to gauge public opinion on changes to its gaming law ahead of the rebidding process of its multi-billion dollar casinos next year. Amazing how a tiny spot has turned into a gaming industry hotspot!
แหล่ง: Reuters - 🏆 2. / 97 อ่านเพิ่มเติม »