Reported 2 months ago
Macau casino stocks dropped on Monday as the city plans to tighten regulations on illegal money-exchange activities, commonly used by gamblers to bypass China's capital controls. The proposed legislation could impose severe penalties on unauthorized money lenders, prompting concerns over the investment climate in the tourism-driven economy. Shares of major operators, including Galaxy Entertainment and Sands China, saw significant declines as the clampdown reflects an ongoing effort by Beijing to control capital outflow and curb related crimes.
Source: YAHOO