Galaxy Entertainment Group Ltd., the Macau casino operator that made Lui Che-woo Asia’s second- richest person, fell the most in more than a week in Hong Kong after reporting earnings that missed estimates.
Macau’s gambling riches sparked bloody gunfights between triad gangsters two decades ago. Today, there’s a new conflict brewing, only this time it’s being waged with private jets, limousines and million-dollar loans.
Chinese stocks listed in Hong Kong fell to a three-week low as the national legislature began its annual meeting and concern mounted that the country may be facing its first onshore corporate bond default.
SJM Holdings Ltd., Asia’s biggest casino operator, will spend HK$30 billion ($3.9 billion) to build its first resort in Macau’s Cotai area, HK$5 billion more than planned because of higher construction and labor costs.