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Wynn and Las Vegas Sands Sink Further Over Macau Gambling Review
Shares of Macau casino operators sank Wednesday after the Chinese region’s government announced a regulatory reform that would tighten officials’ oversight of the industry.
Hong Kong-listed shares of operators such as Wynn Macau, Sands China and MGM China were down by nearly a third, with the industry as a whole losing as much as $16 billion in market capitalization according to some estimates.
Macau’s secretary for economy and finance Lei Wai Nong announced Tuesday night the launch of a 45-day consultation on a reform of the territory’s gaming laws, which notably proposes to put government representatives on the board of casino operators.
...
https://www.marketwatch.com/articles/wyn...latestnews
Shares of Macau casino operators sank Wednesday after the Chinese region’s government announced a regulatory reform that would tighten officials’ oversight of the industry.
Hong Kong-listed shares of operators such as Wynn Macau, Sands China and MGM China were down by nearly a third, with the industry as a whole losing as much as $16 billion in market capitalization according to some estimates.
Macau’s secretary for economy and finance Lei Wai Nong announced Tuesday night the launch of a 45-day consultation on a reform of the territory’s gaming laws, which notably proposes to put government representatives on the board of casino operators.
...
https://www.marketwatch.com/articles/wyn...latestnews
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