![]() ![]() The latest measures preceded Chinese President Xi Jinping's first official visit to Macau in five years on December 19th and 20th. The news, if true, only formalizes the Ministry of Public Security's right to obtain them," it said. "As China UnionPay is a state-owned entity controlled by the PBOC (People's Bank of China) and four PRC (People's Republic of China) banks, the government should already have access to all transactions. However Goldman pointed out that the latest measures aren't exactly new. "Junkets which we have recently talked to sound more cautious about the VIP outlook," it added. Read More New border rules may boost Macau casinos "The news flow on junket investors' assets being frozen and increased scrutiny on mainlanders' gambling overseas reinforce our concern that China's anti-grafting drive may not ease anytime soon," Goldman Sachs wrote in a note last week. The latest measures will likely exacerbate the fallout. The drop followed a decline in VIP attendance VIP tours, often organized by junket operators that arrange travel and credit lines, declined amid China's regulatory effort. Chinese authorities' measures this year to address money laundering and gaming-related crime have taken a toll on Macau-based casino operators, which have lost a combined $58 billion in market value over the past six months, according to Reuters. ![]()
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