The slump came after Lei Wai Nong, Macau's secretary for economy and finance, late on Tuesday gave notice of a 45-day consultation on the gambling industry starting Wednesday, saying there wereBeijing, increasingly wary of Macau's acute reliance on gambling, has not yet indicated how the licence rebidding process will be judged.
"We admit it's only a 'directional' signal, while the level of actual regulation/execution still remains a moot point," he said, adding that the announcement would have already planted a seed of doubt in investors' minds.
Ahead of the licence expirations, operators have tried to bolster their corporate responsibility and diversify into non-gaming offerings to placate Beijing's fears of over-reliance on gambling.
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