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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 biggest VIP junket business, reportedly warned its employees to take additional care when moving money to your Chinese enclave where gaming is permitted.

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

Wynn Macau, traded on the Hong Kong Stock Exchange, lost nearly five per cent of its share cost regarding 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 %.

According to Barron's, a newspaper that is financial investors are fleeing on issues that China's anti-corruption campaign is quickly to target VIP junket operations, for years a crucial part of drawing high-stakes players to various Chinese casinos. President Xi Jinping has been trying to stop the movement of money from the mainland to Macau, a former Portuguese territory that is today a tax haven where casinos routinely focus on the Asian elite.

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

Suncity Group warned workers recently to take extra precautions whenever money that is moving and from Mac

Poker Information: Klein, Chidwick, Blake Profit WSOP Gold

Poker Information: Klein, Chidwick, Blake Profit WSOP Gold

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

Chidwick Wins First-Ever WSOP Bracelet

Stephen Chidwick finished down a run that is impressive the #WSOP50 Event 45: $25K PLO High Roller that saw him beat out 278 fellow poker players within the field. As a result, he found first career World number of Poker bracelet at the Rio Casino.

The victory arrived with an impressive prize package that included a $1,618,417 payout. At enough time, that prize was the greatest awarded through the 2019 World group of Poker up to now.

With the win, Chidwick is now at almost $25 million in all-time gambling earnings at live events, which puts him at eighteenth on the all-time money list. The most notable 42 spots at this year's industry took home a total of $6,602,500 in reward money.

Chidwick completed the working task by taking down James Chen in heads-up play. Matthew Gonzales, Robert Mizrachi and Alex Epstein round out the top-five finishers at 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 reward by winning the 2019 WSOP Event No. 43: $2,500 Mixed Big Bet Event. With all the victory, Klein joined Doyle Brunson and Bill Boyd as the onl