Macau's future in doubt as China crackdown spurs global casino sell-off

The pandemic saw Macau's gaming revenues plunge almost 80 per cent last year from 2019 to 60 billion patacas (S$10.5 billion).
The pandemic saw Macau's gaming revenues plunge almost 80 per cent last year from 2019 to 60 billion patacas (S$10.5 billion).PHOTO: AFP

MACAU (BLOOMBERG) - When investors started calling early on Wednesday morning (Sept 15) after China moved to tighten its grip on the world's biggest gambling hub, the junket operator had just one thing to say: Sell.

"There is no hope in Macau," the executive said in an interview, declining to be named on concern there could be fallout for their business, which facilitates loans for bettors in Macau.

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