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Macau Casino Stock Selloff Is Overdone, Jim Cramer Says

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Macau casino stocks came into focus as Beijing kicked off a regulatory overhaul that could see its officials supervising companies in the world's largest gambling hub.

Macau, a Special Administrative Region of China, told casino operators current rules for gambling licenses could be revised to include "government supervision" of their day-to-day operations.

Names including Wynn Macau, China Sands, Galaxy Entertainment and Melco Entertainment lost a collective $14 billion in value.

Macau is the world's largest gambling hub. 

Following the second day of selling, Jim Cramer told Action Alerts PLUS senior analyst that selling in stocks including Wynn  (WYNN) - Get Free Report and Las Vegas Sands  (LVS) - Get Free Report is overdone. 

Catch his full take on the casino stocks in the video above. 

Recap TheStreet Live: Everything Jim Cramer Is Watching 9/15/21

Wynn is a holding in Jim Cramer's Action Alerts PLUS charitable portfolio. 

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