The Buzz | Macau gaming chips hit 3 year low
Macau gaming stocks hit a three-year low yesterday as reports emerge of an increasing crackdown on money laundering in China’s gambling hub.
Shares of the six big Hong Kong-listed casino operators fell by 5 per cent at the close in Hong Kong, on track for an eighth straight decline, according to an index compiled by Bloomberg.
With yesterday’s decline, Macau gaming shares are down an average 65 per cent since a peak in early 2014. The market value of Sands China, the biggest of the six, has alone declined from a peak of USD67 billion to less than $28 billion yesterday.
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