Macau casino stocks lose almost US$5 billion in sell-off as China’s gambling crackdown snares junket boss

//Macau casino stocks lose almost US$5 billion in sell-off as China’s gambling crackdown snares junket boss

Macau casino stocks lose almost US$5 billion in sell-off as China’s gambling crackdown snares junket boss

Macau casino stocks tumbled, erasing US$4.8 billion of market value in Hong Kong, as the arrest of the head of the biggest junket operator in the gambling hub revived concerns about Beijing’s increased scrutiny of the industry.Sands China and Galaxy Entertainment, the two gaming stocks on the benchmark Hang Seng Index, dropped more than 5 per cent on Monday, extending a sell-off on Friday that was spurred by the emerge of the Omicron virus strain. MGM China sank 10 per cent. The losses were…

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By | 2021-11-29T06:31:45+00:00 November 29th, 2021|Business|Comments Off on Macau casino stocks lose almost US$5 billion in sell-off as China’s gambling crackdown snares junket boss