Another 12% wiped from market cap as Macau gaming stocks continue freefall

March 16, 2022 Macau Earnings & Filings

Macau gaming stocks suffered yet another round of heavy losses on Tuesday, dropping 12% of their market cap in a single day as investors react to global and regional headwinds.

At market close on Tuesday, the Hong Kong-listed entities of all six Macau casino concessionaires had seen HK$43.8 billion (US$5.6 billion) wiped from their combined market capitalization, falling from HK$365.2 billion (US$46.7 billion) to HK$321.5 billion (US$41.1 billion).

As reported by Inside Asian Gaming, Macau gaming stocks had already seen HK$35 billion (US$4.4 billion) wiped off their combined market cap over the weekend and Monday, falling by 8.7% to HK$365.2 billion (US$46.7 billion).