Macau Casinos’ Uncommon Prosperity Is at Risk

Investors are folding their bets on Macau as they worry the gambling hub could be the next target of China’s all-encompassing regulatory crackdown.

Shares of casino operators in Macau plunged Wednesday after the semiautonomous Chinese city launched a public consultation on amending its gambling laws, ahead of the expiration of casino licenses next June. Wynn Macau fell 29% while Sands China lost 33% on the news.

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