Billions Blown As Macau Casino Investors Clap Amid Gambling Reviews
Shares of casino operators in Macau lost as much as a third of their value, losing about $18 billion on Wednesday, as the government launched a regulatory review that would allow its officials to oversee companies in the world’s largest gambling hub. With Macau’s lucrative casino licenses due to be re-offered next year, the plan shocked a Hong Kong market already deeply in the red following Beijing’s regulatory crackdown on sectors from technology to education and real estate, raising hundreds of billions of dollars. were cut in asset value. .reuters.com/world/china/china-crackdown-wipes-hundreds-billions-off-top-companies-values-2021-09-13. Wynn Macau led the dive, falling a whopping 34% to a record low, followed by a 28% drop for Sands China.