Melco CEO Lawrence Ho points out that the industry is a critical driver of the Macau economy, and that concessionaires work closely with the government. Those could be signs these stocks are unfairly ensnared in the regulatory sell-off.<\/p>\n
So I think it’s different from industries that are very new in China that deal with a lot of sensitive customer data,\u201d he said on a conference call with analysts earlier today. \u201cSo whether it’s the education industry or tech. So I think on that basis, all the concessionaires have been working closely with the government for over the years. So I don’t expect any surprises, whether it’s right now or during the license renewal.\u201d<\/p><\/blockquote>\n
He adds the gaming industry drives 80 percent of Macau’s tax revenue and employs a quarter of the special administrative region’s (SAR) working population.<\/p>\n","protected":false},"excerpt":{"rendered":"
Shares of Macau concessionaires are slumping Tuesday, as Beijing continues clamping down on consumer and technology companies, prompting global investors to rapidly ditch Chinese stocks. In midday trading, Las Vegas Sands (NYSE:LVS) — operator of five Macau integrated resorts — and Wynn Resorts (NASDAQ:WYNN) are both off more than four percent. City of Dreams operator […]<\/p>\n","protected":false},"author":46,"featured_media":181018,"comment_status":"open","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"_acf_changed":false,"footnotes":""},"categories":[10,13592],"tags":[],"acf":[],"yoast_head":"\n
Macau Stocks Slump as China Regulatory Crackdown Spooks Investors<\/title>\n\n\n\n\n\n\n\n\n\n\n\n\n\t\n\t\n\t\n\n\n\n\n\n\t\n\t\n\t\n