HXEX figures detail specific market cap losses for each of Macau’s six concessionaires, with SJM Holdings down some 19% on Monday’s figures, slumping to a close of HK$2.90, down from HK$3.60 yesterday.
Things have worsened for Wynn Macau, too, which is down a further 27% following a 13% market capital loss reported on Monday; the most significant blow for any of Macau's concessionaires.
MGM China is also down some 20% from Monday, and Sands China 23%. Melco International Development has also been hit hard with losses of 25%.
In truth, market losses are leaving none of Macau’s concessionaires unaffected. However, Galaxy Entertainment is the least affected by the market pinch, being 15% down from Monday's figures.
This is the second crash in as many weeks for Macau and comes following a travel ban implemented on local regions in the Guangdong province.
Alongside Macau’s travel ban on incoming tourists, China as a whole has some 51 million people in lockdown.
The impact of Russia’s war in Ukraine cannot be ignored either, as this has had a detrimental effect on stocks worldwide.
The amalgamation of these factors, particularly the negative impact of Covid-19, is what is driving the market downturn in what was once the most lucrative region for casino operators worldwide.
