Billions blown as Macau casino investors fold amid gambling review [Globe and Mail, The (Toronto, Canada)]
MGM Resorts International (MGM)
Last mgm resorts international earnings: 4/30 04:15 pm
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Source: Globe and Mail, The
regulatory overhaul that could see its officials supervising companies in the world's largest gambling hub. With Macau's lucrative casino licenses up for rebidding next year, the plan spooked a Hong Kong market already deep in the red after Beijing's regulatory crackdown on sectors from technology to education and property that sliced hundreds of billions of dollars off asset values. Wynn Macau led the plunge, falling as much as 34% to a record low, followed by a 28% tumble for Sands China . Peers MGM China, Galaxy Entertainment , SJM and Melco Entertainment all fell heavily, taking the drop to HK$143 billion ($18 billion). The slump came after Lei Wai Nong, Macau's secretary for economy and finance, gave notice on Tuesday of a 45-day consultation period on the gambling industry to begin from the following day, pointing to deficiencies in industry supervision. Beijing, increasingly wary of Macau's acute reliance on gambling, has not yet said how the license rebidding process w
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MGM
Earnings
- 2/13/24 - Beat
MGM
Sec Filings
- 4/11/24 - Form PX14A6G
- 4/9/24 - Form 8-K
- 4/3/24 - Form 4
- MGM's page on the SEC website