Wynn, Las Vegas Sands Tumble on China’s Casino Crackdown

(Bloomberg) — U.S. casino firms with exposure to Macau tumbled on Wednesday, extending a slump that started in the prior session after officials in the Asian gaming hub said they would tighten restrictions on operators.Wynn Resorts Ltd. suffered its biggest two-day rout since March 2020 in New York. Las Vegas Sands Corp. dropped 1.7%, while Melco Resorts & Entertainment Ltd. sank 14% and MGM Resorts International slipped 2.5%.Wednesday’s selloff started in Asia, where Macau’s top gaming stocks listed in Hong Kong lost a record $18.4 billion in combined market value. Officials said changes to casino regulations would include appointing government representatives to “supervise” companies in the world’s biggest gaming hub.“It’s another concerning action of increasing regulation aimed at some of the higher …

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

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