Gambling stocks slump on arrests in Macau, Omicron fears

LET group

29/11/2021 02:29

** Gambling stocks listed in Hong Kong  .CSICESG10  decline
6.5%
    ** Shares in Wynn Macau  1128.HK , Melco International
Development Ltd  0200.HK , SJM Holdings Ltd  0880.HK , MGM China
Holdings Ltd  2282.HK  fall more than 7% each
    ** Macau police said on Sunday they had arrested 11 people
in an investigation into an illegal gambling and
money-laundering syndicate, a day after businessman Alvin Chau,
who organises trips to Asian casinos for big spending gamblers,
was questioned at a police station https://www.reuters.com/world/china/chinas-wenzhou-issues-arrest-warrant-macau-junket-mogul-chau-2021-11-27
  urn:newsml:reuters.com:*:nL1N2SJ08Z
    ** Shares of Suncity Group Holdings Ltd  1383.HK  were
suspended on Monday after its chief executive was believed to be
among 11 people  urn:newsml:reuters.com:*:nP8N2PH00O
    ** The new Omicron coronavirus variant - identified first in
South Africa, but also detected in Europe and Asia - is raising
concerns worldwide given the number of mutations, which might
help it spread or even evade antibodies from prior infection or
vaccination
    ** More countries imposed travel restriction to try to seal
themselves off
 

 (Shanghai Newsroom)
 ((Jason.Xue@thomsonreuters.com))