Macau Stocks Blow Up

macau casino lisboa

Photo: Wikimedia Commons

Macau casino stocks took a major hit today on concerns that tighter credit conditions in China will hurt gambling operations. The sell-off weighed on the Hang Seng dragging it down 4.38%.About $23.5 billion of Macau’s gambling revenues in 2010 came from high-spenders from China who gamble with money borrowed from junket operators, according to AP.

Junket operators who often borrow money from unofficial lenders, organise tours for mainland Chinese and lend them money to gamble in private VIP rooms. Now unofficial lenders are also said to have restricted lending. This comes after reports that 

Here’s a look at some of the big names:

  • SJM Holdings: -25.53%
  • MGM China Holdings Ltd: -20.25%
  • Galaxy Entertainment: -18.24%
  • Sands China: -14.59%
  • Wynn Macau: -11.61%

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