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Fears of Beijing gambling crackdown sends casino stocks crashing Dec 9, 2016
 

Casinos are seen in a general view of MacauHONG KONG/SHANGHAI (Reuters) - Casino stocks from Australia's Crown Resorts to Las Vegas Sands tumbled after a report that Macau, the world's biggest gambling hub, would limit cash withdrawals as part of a Beijing-led crackdown on illicit outflows. The South China Morning Post, citing a finance industry source, reported late on Thursday that Macau would halve the amount of cash that China UnionPay cardholders can withdraw from automated teller machines (ATMs) in the territory. The move by the Monetary Authority of Macau would cut daily limit for clients of China's largest provider of bank cards to 5,000 patacas ($626) from 10,000 currently, the newspaper reported.


 
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