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Macau’s VIP sector facing cash crunch

Macau’s VIP sector facing cash crunch

Macau’s VIP gaming sector is undergoing a cash crunch as customers withdraw billions of dollars in deposits due to concern about Beijing’s crackdown on capital flows for gambling purposes, Reuters reports.

China online gaming crackdown hurting VIP: Reuters

China’s clampdown on online gaming to stop capital outflows is having a negative impact on liquidity in Macau’s VIP sector, Reuters reports.

UnionPay crackdown has minimal impact amidst illegal use

The seizure of UnionPay point of sale terminals (POS) from pawn shops in Macau earlier this month triggered a slide in operator shares on...

China imposes new Union Pay limits

China's State Administration of Foreign Exchange has imposed new restrictions on UnionPay cards, effective on January 1, 2018, though the impact on Macau GGR...

Capital controls not deterring gamblers, Ho says

Melco Resorts International head Lawrence Ho said capital control measures introduced in China and Hong Kong are not deterring Mainland gamblers. In an interview with...

China capital controls cause headache for foreign business

Beijing’s effort to tighten capital controls has resulted in a 74 percent drop in Chinese outbound investment in the first quarter of this year...
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