Regulators in China launched an audit of the junket industry in the gaming region of Macau, sending Las Vegas Sands' (LVS - Get Report) , a company with wide exposure to Macau, stock down more than 1% premarket.
Junkets act as middlemen who attract high rollers to the casino on behalf of the casino operators and settle their debts when they are done gambling. Junkets are responsible for about half the gaming revenue in Macau.
Macau gaming revenue has had a nine month streak of year over year gains after suffering through more than two years of declines the last time China clamped down on corruption and money laundering.
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