Could the winning streak be over for casinos with operations in Macau? As China looks to reign in credit, that is increasingly looking like it might be the case.

China is requiring some banks to raise their reserve ratios for excessive lending and asking some not to issue new loans, according to reports. And any liquidity reduction or hike in interest rates could cause a slowdown in revenue, J.P. Morgan analyst Joseph Greff wrote in a note. This reduction “would likely reduce what is currently a high-growth market, where liquidity is driving such growth.”

Casinos like Las Vegas Sands(LVS Quote) and Wynn Resorts(WYNN Quote) have been relying heavily on Macau, as gambling remains weak in regional gaming markets and on the Las Vegas strip.

In December, Macau gaming revenues shot up 47.7% to $1.42 billion.

Last year both Sands and Wynn completed initial public offerings of their Macau assets to rake in about $4.13 billion combined.

MGM Mirage(MGM Quote) is also in the process of moving forward with its IPO of its Macau assets. The company has been hoping to raise as much as $1 billion in the offering.

– Reported by Jeanine Poggi in New York.

Thanks To : THESTREET

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