Casino Stocks in China’s Gambling Hub Are Out of Luck

Coronavirus flare-ups and a regulatory overhaul are clouding the long road to recovery for China’s gambling hub.

Macau’s gaming stocks have lost between 23% and 56% since the start of 2021, as the second year of the pandemic has kept what used to be the world’s most lucrative gambling market largely closed off to outside visitors. They fell steeply Friday amid a broader international selloff triggered by concerns about a new, fast-spreading coronavirus variant.