Investors shun Macau casino bonds as tourism from China plummets

Macau casinos once seemed to have a license to generate money. They are now squeezed by a worsening slowdown in Chinese tourism, and their bond prices are crashing as a result.

Dollar bond prices Wynn Macau fell to 68 cents on the dollar, levels more commonly associated with troubled debt. A link from MGM China Holdings which matures in 2027 was about 76.6 cents on the dollar on Wednesday, according to FactSet. Casino bonds maturing in 2024 are yielding more than 15%.


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