Macau Casino Stocks Plunge with VIPJunket Ops in Beijing’s Anti-Corruption Crosshairs

Macau Casino Stocks Plunge with VIPJunket Ops in Beijing’s Anti-Corruption Crosshairs

Investors folded on Macau casino stocks after Suncity Group, the region’s VIP junket company that is biggest, reportedly warned its workers to take additional care when moving money to your Chinese enclave where gaming is permitted.

Billionaire Steve Wynn had been one of many casino magnates whom destroyed money on Monday, as Macau casino stocks dipped on continued uncertainty about the ongoing future of VIP junket operators. (Image: Vincent Yu/Associated Press)

Wynn Macau, traded on the Hong Kong Stock Exchange, destroyed almost five % of its share cost on the news. Galaxy Entertainment was down more than three percent, and MGM China, Sands China, and SJM Holdings all saw their valuations dip by at least two percent.

According to Barron’s, a financial newspaper, investors are fleeing on concerns that China’s anti-corruption campaign is soon to target VIP junket operations, for a long time a crucial section of drawing high-stakes players to various Chinese casinos. President Xi Jinping has been trying to stop the movement of cash from the mainland to Macau, a former Portuguese territory that is today a tax haven where casinos regularly appeal to the Asian elite.

‘Investors are worried that the Suncity warning could preclude another crackdown on the industry,’ Barron’s columnist Daniel Shane published.

Suncity Group warned employees recently to simply take extra precautions when moving money Continue reading Macau Casino Stocks Plunge with VIPJunket Ops in Beijing’s Anti-Corruption Crosshairs

Poker News: Klein, Chidwick, Blake Profit WSOP Gold

Poker News: Klein, Chidwick, Blake Profit WSOP Gold

This week’s poker news is just a recap of the biggest wins at the ongoing 2019 World Series of Poker. Here were a number of the big winners:

Chidwick Wins First-Ever WSOP Bracelet

Stephen Chidwick finished down an impressive run at the #WSOP50 Event 45: $25K PLO High Roller that saw him beat out 278 fellow poker players in the field black diamond casino events cincinnati oh. As an outcome, he found career that is first variety of Poker bracelet at the Rio Casino.

The victory came with an impressive prize package that included a $1,618,417 payout. That prize was the biggest awarded during the 2019 World Series of Poker so far at the time.

Utilizing the win, Chidwick is now at nearly $25 million in all-time gambling earnings at live events, which puts him at 18th on the all-time money list. The most notable 42 spots as of this year’s field took home a total of $6,602,500 in reward money.

Chidwick completed the job by firmly taking down James Chen in heads-up play. Matthew Gonzales, Robert Mizrachi and Alex Epstein round out the finishers that are top-five this event. The field for this event continued to grow with 48 more entries 12 months over year as was the case last year.

Klein Claims $127K With By Winning WSOP Event No. 43

Loren Klein continued his run of dominance by firmly taking home a $127,808 money award by winning the 2019 WSOP Event No. 43: $2,500 Mixed Big Bet Event. With the victory, Klein joined Doyle Brunson and Bill Boyd since the only players ever t Continue reading Poker News: Klein, Chidwick, Blake Profit WSOP Gold