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Bond Market News

Macau Casino Bonds Trade Weaker after Mogul Gets Detained

November 30, 2021

Macau casino bonds were trading weaker after police arrested 11 people over alleged money-laundering and illegal cross-border gambling, with the founder of Macau’s biggest “junket operator” Suncity, Alvin Chau, among those detained. The arrest comes amidst a regulatory clampdown in China on the gambling sector, amongst other sectors. Ben Lee, founder of Macau gaming consultancy IGamiX, said “It means that China will no longer tolerate Macau promoting in any form or manner gambling into the mainland.”

The city’s biggest operators were affected by the news, with Wynn Macau’s 5.5% 2026s down 2.89 to 93.926 and Melco’s 4.875% 2025s down 0.88 to 99.313.

For the full story, click here

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