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$14 billion wiped out from Macau casinos as China tightens regulations
short by Pragya Swastik / on Wednesday, 15 September, 2021
Macau casino operator stocks plummeted on Wednesday, losing a combined market value of $14 billion. This comes after the Chinese government kicked off a regulatory overhaul and also said that government representatives will be appointed to "supervise" companies in Macau. Lei Wai Nong, Macau's secretary for economy and finance, has given notice of a 45-day consultation on the gambling industry.
read more at BloombergQuint