Macau casinos suffer $18BILLION losses in share collapse after Beijing officials plan crackdown


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Casino operators in Macau, the city known as China 's Las Vegas , saw billions wiped off their value on Wednesday as their shares collapsed. Shares plummeted by as much as a third, losing about $18 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. It comes after Macau officials unveiled plans on Tuesday that would tighten their grip on the already beleaguered industry, as part of a wider Beijing-led crackdown. Hong Kong-listed operator Wynn Macau led the plunge, falling as much as 34% to...