Macau’s Casinos Empty as China Stock Bets Jump: Chart of the Day
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Shares of Macau’s two largest casino operators are heading for their first annual losses in more than four years as Chinese gamblers cut spending amid an anti-graft campaign and record bets on the stock market.
The CHART OF THE DAY compares the performance of Sands China Ltd. and Galaxy Entertainment Group Ltd. against China’s two biggest brokerages by market value in Hong Kong trading. Casino revenue in Macau slumped last month to 24.3 billion patacas ($3 billion), the lowest level since September 2012, while trading on the Shanghai and Shenzhen stock exchanges reached a high of 1.24 trillion yuan ($200 billion) yesterday.