Shares of Galaxy Entertainment and Sands China, among the biggest gainers in Hong Kong in 2016
Macau casinos bounce back as gamblers ditch China stocks
The wheel of fortune is favoring Macau casino operators over brokerages as gambling revenue stabilizes and turbulence in the equity market weighs on turnover.
2016-03-09
Reading time 24 seg
The wheel of fortune is favoring Macau casino operators over brokerages as gambling revenue stabilizes and turbulence in the equity market weighs on turnover.
Shares of Galaxy Entertainment Group Ltd. and Sands China Ltd. are among the biggest gainers in Hong Kong in 2016, after being the two worst performers over the previous two years, while Citic Securities Co. and Haitong Securities Co. are down more than 10 percent. The two-year slump in gambling revenue that was sparked by an anti-corruption campaign coincided with China’s biggest-ever bull market in equities.
See 'Macau gambling picks up as Chinese stock bets sour' chart here .
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