Macau’s gaming law reform has removed significant regulatory overhang for the city’s casino industry, but the outlook for the sector remains clouded because of Covid-19, analysts said.
HONG KONG, Jan 17 Shares in Macau’s casino giants surged this morning after the world’s biggest gambling hub announced changes to its regulations, reducing the uncertainty that has plagued the lucrative sector’s six operators. The Chinese territory’s multibillion-dollar industry has.
HONG KONG, Nov 29 Shares in Macau casino operators plunged Monday morning after police said the head of the gambling enclave’s largest junket operator had confessed to running illegal betting activities overseas. Alvin Chau, head of Suncity Group, was taken in for questioning over the weekend.
Local stocks regained some footing after a sell-off earlier this week amid regulatory uncertainty. China Evergrande slipped further as the developer looks for solutions to unwind US$300 billion of liabilities.