Macau Casinos Plunge After Government Proposes Tighter Control

Bloomberg
 
Macau Casinos Plunge After Government Proposes Tighter Control
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Macau’s gaming stocks plunged in Hong Kong after officials in the Chinese enclave revealed a proposal to change casino regulations that could place tighter restrictions on the companies. 

Sands China Ltd. sunk 21% in Wednesday morning trading, and Wynn Macau Ltd. plunged 34%, both the most on record. Galaxy Entertainment Group slumped 18%, the sharpest drop in a decade. The Bloomberg Intelligence index of the six big casino operators fell 9.5%, the most since 2016.

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