Jim Chanos Just Announced The One China Long Bet He's Making

wynn encore casino macau china

Photo: AP

Jim Chanos is on CNBC, and of course a lot of it is centering around his well-known dislike of the Chinese property market.But there is one area of China that he’s long, and that’s the US casinos making bank in Macau.

First of all, the top-line growth is great, but wryly it’s also a bet on Chinese corruption: The idea is that the big casinos are actually stealth money-funelling operations, allowing folks to easily convert RMB into Hong Kong dollars.

He says he’s long these casinos as a pair trade, basically, against his property shorts.

Some of the names there include Wynn and Las Vegas sands.

Click here for a guide to the Macau boom and the companies that dominate it >

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