Archive for the ‘Royal Vegas Casino’ Category

Chinese Government Card Swipe Crackdown Hits Macau

Freitag, Februar 28th, 2020

Chinese Government Card Swipe Crackdown Hits Macau

Gambling funds obtained through illicit card-swiping in Macau are estimated to 12 % of mass market turnover. (Image: Brain)

The end result of Asia’s imminent crackdown on the use of hand-held card swipers is being felt in Macau, with the Wynn Macau witnessing its biggest market decline since October 2011.

Macau’s casino economy has soared over the last few years, so much so that it now eclipses nevada once the gambling capital worldwide, however the Chinese government’s sudden enforcement of a ban on illegal money transfers has investors worried; Wynn Resorts Ltd. fell recently to 8.5 percent during the close in Hong Kong trading, while MGM Asia Holdings Ltd. dropped 8.2 percent for the same period. The Galaxy Entertainment Group Ltd., meanwhile, fell 7.6 percent, while Sands China Ltd. dropped 4.6 %, and SJM Holdings Ltd., 6.6 per cent.

Visitors to Macau from the mainland are permitted to bring a maximum of 20,000 yuan ($3,200) into the gambling hub and may only withdraw 10,000 yuan per time, per card, from money devices. To swerve the restrictions, tourists have the ability to buy goods from local pawn shops making use of their debit cards and then trade them for regional money with the pawnbroker that is same.

Illegal Card-Swiping Amounts to $6 Billion

However, the increasing use of card-swiping machines in casinos has maybe not only caused a slump in Macau’s pawnbroking industry, but it is also (mehr …)

Fantasy Sports Trade Association Forms Self-Regulatory Agency for DFS

Dienstag, Februar 25th, 2020

Fantasy <a href="" class="more-link"><span aria-label="Fantasy Sports Trade Association Forms Self-Regulatory Agency for DFS weiterlesen">(mehr …)</span></a>