China's corruption crackdown hurts James Packer's … China’s crackdown on corruption has cost Australian billionaire James Packer dear by eating into profits at his Macau casinos. Packer’s Crown Group said on Thursday that first-half net profit slumped 47.2% as revenue from gambling hub Macau fell sharply while the firm was also hit by writedowns... Macau hit by gambling crackdown – CNN Money Asia's gambling mecca has been hit hard by China's anti-corruption campaign. But can Macau reinvent itself as an entertainment destination that offers more than just baccarat and blackjack? As Casino Revenues Plummet, What's Next for Tiny Macau? |… Casino revenues have been slashed in Macau, posingChinese President Xi Jinping has launched a crackdown on graft among officials at all levels of“It’s what we call the price you pay” Gambling has been part of Macau since before the 1850s, when Portuguese administrators made it legal and taxable.
Gambling revenues in Macau hit a three-year high in October as a national holiday week led to more visitors. Revenues rose by a higher than expected 22% from a year earlier to $3.3bn (£2.5bn ...
Macau saw a quick and dramatic drop in gross gaming revenue as a result from the massiveWhile the Great Recession showed Las Vegas that all its leading industries were the first to be hit in cases ofHowever, while a great portion of all Las Vegas visitors are flocking to the city’s non- gambling... Macau's gambling revenue hit with first annual fall -… Gambling revenue in Macau, the world's biggest gaming hub, has fallen forThe prolonged slump in the sector has been blamed on the Chinese government's campaign to reinCasinos hit. Macau, a special administrative region of China, is the only place in the country where casino gambling is legal. Macau Gambling Revenue Hit A Record $US45 Billion In… Macau’s gambling revenue jumped 18.6 per cent to a record $US45 billion in 2013, official figures showed Thursday, cementing the city’s placeThe only part of China where casino gambling is legal, Macau overtook Las Vegas as the world’s gaming capital in terms of revenue after the sector was... The Truth Behind Macau’s Luxury Market | Global Currents,…
Macau’s gross gambling revenue soared to a two-year high in February, rising 18 percent on theThe Parisian Macau is one of a new raft of resorts in the gambling hub that are focused on familyIt was an anti-graft campaign that sought to discourage public displays of wealth by Communist Party...
MACAU, Oct 6 (Reuters) - Gambling revenue in the world’s biggest gaming hub Macau recorded their steepest drop in more than five years in September as China’s campaign against corruption and a Macau gambling revenue up for 4th month 丨 Business Macau's VIP industry is mostly managed by middle men, casino junket operators acting on behalf of multi-billion dollar casinos. But since 2014, their business has been hit hard with Chinese President Xi Jinping implementing an anti-graft campaign. Prior to Anti-corruption campaign Phase II likely to hit Macau Macau casinos make more than half of their revenues from high rollers. As the anti-graft campaign activity and the number of cases investigated has seemed to slow in recent months, this second push in the crackdown on corruption will surely send shockwaves Macau’s high-rolling casinos suffer amid China anti-graft ...
Beijing Spies on Chinese Officials Gambling in Macau, Says ...
Beijing Spies on Chinese Officials Gambling in Macau, Says ... In late 2014 the anti-graft campaign intensified in Macau as Beijing ... Spearheaded ‘Corruption Crackdown,’ Hit Macau Casino Sector Hard ... Seminoles End $350 Million Annual Casino Revenue ... Macau audits more junkets amid widespread scrutiny of ... Macau, a special administrative region in China, is the only place in the country where Chinese nationals are allowed to gamble in casinos. Casino revenues had plummetted as the anti-graft ... The Truth Behind Macau’s Luxury Market | Global Currents ... With gambling revenues that dwarf those of Las Vegas and non-stop retail expansion, why are there so many mixed messages about China’s gambling mecca? ... The Truth Behind Macau’s Luxury Market. Share. 2 ... As a result of the lingering effects of China’s anti-graft campaign — and Hong Kong’s flashpoints over pro-democracy reform ...
China’s gaming capital, Macau, is a clear example of the collateral damage that can result when Beijing moves in. Macau stocks underperformed the Hang Seng Index by 41% in 2014, according to a research report by Morgan Stanley, with the anti-corruption campaign being one of the main reasons cited.
Xi Arrives in Macau as Anti-Corruption Campaign Hits Casinos
Macau casinos cash in again as China’s luxury sector ... Macau casinos cash in again as China’s luxury sector rebounds ... of China where casinos are legal, Macau was hit hard by President Xi Jinping ... toughest days of Mr Xi’s anti-graft campaign ... Anti-corruption campaign Phase II likely to hit Macau