Wynn and Las Vegas Sands Sink Further Over Macau Gambling Review

Wynn and Las Vegas Sands Sink Further Over Macau Gambling Review
·1 min read

Shares of Macau casino operators sank Wednesday after the Chinese region’s government announced a regulatory reform that would tighten officials’ oversight of the industry. Hong Kong-listed shares of operators such as Wynn Macau (1128.HK), Sands China (1928.HK) and MGM China (2282.HK) were down by nearly a third, with the industry as a whole losing as much as $16 billion in market capitalization according to some estimates. Macau’s secretary for economy and finance Lei Wai Nong announced Tuesday night the launch of a 45-day consultation on a reform of the territory’s gaming laws, which notably proposes to put government representatives on the board of casino operators.

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