Shares of MGM Resorts International (MGM - Get Report) , Wynn Resorts (WYNN - Get Report) and Las Vegas Sands (LVS - Get Report) fell Thursday following a report from the South China Morning Post saying that China's government will cut the amount of money people can withdraw from China UnionPay ATMs in the gaming region by half starting Saturday.
MGM Resorts International shares closed down 4.3% to $28.65, Wynn Resorts fell 11.1% to $90.72 and Las Vegas Sands dropped 12.8% to $54.67 following the report.
China UnionPay is the country's state-sponsored domestic bank card organization. It accounted for 37% of the $21.7 trillion bank card holders spent globally in 2015, according to RBR's Global Payments Cards data.
Visitors to the region now will be allowed to withdraw only up to 5,000 patacas ($611) daily as opposed to the previous 10,000-pataca daily limit.
The Monetary Authority of Macau's new limit is part of an effort to stem the tide of people illegally taking cash out of China. The country has tightened its capital controls in recent months as the yuan experiences depreciation pressure.
Recently, it was discovered that a customer voucher scheme run by Marina Bay Sands casino in Singapore allows China UnionPay card users to purchase gaming chips in violation of China's currency controls, according to the South China Morning Post.
The move is a roadblock for the Macau gaming region, which has shown signs of recovery for four consecutive months after posting 26 straight months of declining year-over-year revenue.
Wynn and Las Vegas Sands took bigger hits in trading than MGM did due to the fact that those companies have more exposure to Macau than MGM does. More than 60% of Wynn's revenue is tied to Macau, while 40% of Las Vegas Sands' revenue comes from Macau. In contrast, 20% of MGM's revenue comes from the special administrative region.