Sands China Drops as Xinhua Says Macau Casino Curbs
Nov. 17 (Bloomberg) -- Sands China Ltd., Asia’s second- biggest casino operator by market value, dropped the most in almost a year in Hong Kong after Xinhua News Agency said Macau will tighten control of its casino industry.
Macau’s government will tighten control of the number of new casinos, gaming tables and slot machines, state-run Xinhua reported yesterday, citing the city’s Chief Executive Fernando Chui. Regulators in the only place in China where casinos are legal will also enhance supervision, especially the auditing of financial records, it said.
Macau will exclude casinos from allowed uses for land newly filled in from the sea, instead earmarking it for public housing and industries that will help the economy expand beyond gambling, .....
Las Vegas Sands fell 5.8 percent to $46.24 in New York trading yesterday, the most in more than four months. Melco Crown declined 4.2 percent and Wynn Resorts Ltd. slid 3.3 percent.
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