Sumary of Casino stocks slide for a 2nd day as China enclave of Macau launches review of gambling industry:
- Casino stocks including Wynn Resorts and Las Vegas Sands dropped for a second day on Wednesday The stocks dropped as Macau said it would start a regulatory review of the gambling industry.
- Shares of Wynn Resorts and Las Vegas Sands slumped Wednesday, extending losses of the Macau casino operators into a second session following government plans to begin a regulatory review of the gambling industry.
- The government in Macau, China’s only location where gambling is legal, said Tuesday it would begin a 45-day public consultation period focusing on a potential overhaul of licensing, or concession, rules, and direct supervision over the industry.
- Officials are considering putting government representatives on the boards of licensed operators and are looking to criminalize underground banking in the industry, according to an AFP report.