News Snapshot:
Macau casino operator stocks plummeted by as much as a third on Wednesday, losing around $14 billion in value, as the government kicked off a regulatory overhaul that could see its officials supervising companies in the world’s largest gambling hub. With Macau’s lucrative casino licences up for rebidding next year, a government proposal to revise the city’s gaming law spooked a Hong Kong market already slammed hard into the red by a broad Beijing regulatory crackdown, across sectors from technology to education and property, that has sliced hundreds of billions of dollars off asset values. Wynn Macau (1128.HK) led the...
