Macau casino stocks plunge as gov’t kicks off consultation


Source: timesofnews.com timesofnews.com

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Macau casino operator stocks have plummeted by as much as a third, losing about $14bn in value, as the government kicked off a public consultation that investors fear will lead to tighter regulations 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 led the plunge, falling...