China sets gaming crackdown
The Government of China announced a national crackdown on gaming activities in rural areas.
China.- According to official governmental statement, authorities in China decided to set a crackdown on illegal gaming activities spread throughout the country’s rural areas. The legal operation will be held before the celebration of the Lunar New Year holidays, when many residents visit Macau.
“Gambling is drawing in people who have received demolition compensation and the left-behind family members of migrant workers,” stated a circular released on Wednesday by three-law enforcement departments and published by local newspapers AGBrief and Xinhua. Authorities have also demanded the help of citizens.
Meanwhile, Macau could no longer have the monopoly of casino industry in China, as authorities are evaluating to legalise gaming operations in Hainan. Casino resorts are only legal in the Chinese city of Macau so far, but the island of Hainan could be the next hub for international investors that seek to expand their businesses. New licenses would be granted to stop illegal operations.
The news agency Bloomberg has shared the information last week, suggesting that Chinese authorities are in favour of strengthening the local casino market with new licenses. After Bloomberg’s report, Macau’s casino stocks tumbled during the weekend, with Sands China and MGM Holdings dropping 6 per cent and Wynn Macau falling 6.7 per cent.
