News Snapshot:
When Macau’s lucrative casino license is re-bid next year, the government’s proposal to amend the city’s gaming law will bring the Hong Kong market, which has already fallen into the red due to widespread regulatory crackdowns in Beijing, from technology to education to real estate. I was surprised. Hundreds of billions of dollars off asset value. Wynn Macau led the plunge, dropping 34% to a record low, followed by Sands China by 28%. Peer MGM China, Galaxy Entertainment, SJM and Melco Entertainment all fell sharply to HK $ 109 billion ($ 14 billion). The slump occurred late Tuesday after Macau’s...
