Macau gaming stocks plummet again as US$4.4 billion wiped from market cap

March 15, 2022 Macau Earnings & Filings

Macau gaming stocks have seen another HK$35 billion (US$4.4 billion) wiped off their combined market capitalization – the second time in as many weeks that prices have crashed over the weekend and Monday.

The Hong Kong-listed entities of all six Macau casino concessionaires plummeted in the 72 hours between trading close on Friday and trading close on Monday, the most substantial being Wynn Macau Ltd which saw its share price fall by 13.2% to HK$5.12. The Wynn Macau share price had been at HK$15.82 exactly one year ago on 15 March 2021.

All but one of Macau’s “Big Six” lost more than 10% of their value since Friday close, with Galaxy Entertainment Group the only exception – down 5.0% to HK$39.00. SJM Holdings fell 12.3% to HK$3.21, Sands China by 11.6% to HK$15.56, Melco International Development by 11.5% to HK$5.94 and MGM China by 10.4% to HK$4.06.