(Yicai Global) Sept. 15 -- Shares in Macau’s biggest casinos all plummeted around 30 percent today, wiping out USD14 billion in combined market value, after the Macau Special Administrative Region said it will increase supervision of operators in the world’s biggest gambling sanctuary.

Wynn Macau’s share price [HKG:1128] plunged 28.97 percent to close at HKD6.40 (USD1), Sands China’s stock [HKG:1928] nosedived 32.51 percent to end at HKD16.84, while MGM China [HKG:2282] tanked 26.81 percent to finish at HKD5.76.

The Macau government plans to overhaul the Law for Casinos’ Gambling and Lottery Operations and is opening the matter up to public debate from today until Oct. 29, it said yesterday.

Given big changes in the region’s social environment, economic conditions and the scale of the gambling industry, the Macau government has decided to examine and improve existing laws and regulations to ensure the sustained and healthy development of its gambling sector, China News Service reported, citing Lei Wai Nong, director of the Department of Economics and Finance.

Regulators are likely to tighten oversight of capital management and daily operations, China Fund reported, citing a research report by J.P. Morgan Chase. The news has shaken investors who are very concerned about how much the new regulations will interfere with the status quo.

The length of licenses granted to casinos, the legal requirements for operating a casino, the review mechanism, the appointment of government representatives and the promotion of projects with non-gambling elements are some of the topics that will come under scrutiny.

Editor: Kim Taylor