Australian casino shares tumble after China arrests
Shares in Asian casino operators fell on Monday amid fears of a Chinese crackdown on foreign operators.
Crown Resorts, controlled by James Packer, closed 13.9% lower after Crown confirmed 18 of its staff had been detained in China.
Among those arrested was a senior executive in charge of attracting high-rollers to Australia.
Most gambling is illegal on mainland China, and soliciting its citizens to gamble overseas is also banned.
But some firms have continued to market resort and tourism services where their casinos are located.
Shares in Asian casino operators Sands China, Galaxy... read more
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