This file photo taken on March 5, 2019 shows visitors taking photos outside the Wynn casino resort with a view of the Grand Lisboa (top C) casino resort building in Macau. Macau casino stocks plunged by more than a quarter on September 15, 2021, as the city known as China's Las Vegas kicks off a public consultation ahead of an expected tightening of gaming industry regulations. - AFP
HONG KONG, Sept 15 (Reuters): Macau casino operator stocks plummeted by as much as a third on Wednesday, losing around US$14 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.
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.
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