Dem Plan Would Cut Taxes for Most, Hit Top Earners Hardest: Analysis

Reuters

Billions blown as Macau casino investors fold amid gambling review

HONG KONG (Reuters) -Macau casino operator stocks plummeted by as much as a third on Wednesday, losing around $14 billion in value, as the government kicked off a regulatory overhaul that could see its officials supervising companies in the world’s largest gambling hub. With Macau’s lucrative casino licences up for rebidding next year, a government proposal to revise the city’s gaming law spooked a Hong Kong market already slammed hard into the red by a broad Beijing regulatory crackdown, across sectors from technology to education and property, that has sliced hundreds of billions of dollars off asset values https://www.reuters.com/world/china/china-crackdown-wipes-hundreds-billions-off-top-companies-values-2021-09-13. Wynn Macau led the plunge, falling as much as 34% to a record low, followed by a 28% tumble for Sands China.