Posted on

Macau puts casinos in the cross hairs to stem capital flows and tighten daily operations, sending stocks into a tailspin



Share

Macau’s authorities will solicit public opinion to overhaul the city’s gambling laws, sending the shares of casino operators plunging in a US$17 billion wipeout, as the proposed revisions portend heightened scrutiny of capital flows and daily operations.The 45-day consultation will ask the public to give their feedback on a raft of rules including additional government oversight, permission for the remittances of dividends, and a proposal to slash the number of gambling tables. JPMorgan Chase…

Read More