International edition
October 17, 2021

Country's casino stocks have taken a beating

Macau to size up gaming industry

Macau to size up gaming industry
(Macau).- CEO Fernando Chui said that the Macau government will review its casino industry, after China’s President Xi Jinping visited the island. The purpose of the review is “To find greater courage” to strengthen regulation of Macau’s leading i
Macau | 12/23/2014

(Macau).- CEO Fernando Chui said that the Macau government will review its casino industry, after China’s President Xi Jinping visited the island. The purpose of the review is “To find greater courage” to strengthen regulation of Macau’s leading industry,” he expressed.

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i and the mainland government have put the Macau casino industry on ice in recent months as they crack down on the flight of money from China to Macau and out of the country, as well as against corruption by government officials.

Indicating that perhaps the worst of the ominous warnings are over, Macau casino stocks had a fairly calm day on Friday as Xi landed in Macau to mark the country’s 15th year under Chinese rule. In New York, all four US-listed Macau operators rose substantially, from Wynn’s 3.45 percent jump to MGM Resorts’ 4.79 percent increase.

That followed the rebound in Hong Kong, where SJM stock rose 3.86 percent, Melco Crown jumped 2.68 percent and MGM China rose 0.84 percent.

The others were even or only slightly down. Thus, the stocks enjoyed their second straight day of stability after a rout that has lasted several months and has seen them lose 30 to 50 percent of their market value.

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