{"id":327649,"date":"2024-08-12T11:56:28","date_gmt":"2024-08-12T16:56:28","guid":{"rendered":"https:\/\/www.casino.org\/news\/?p=327649"},"modified":"2024-08-12T12:26:18","modified_gmt":"2024-08-12T17:26:18","slug":"macau-casino-stocks-languish-on-new-money-transfer-rules","status":"publish","type":"post","link":"https:\/\/www.casino.org\/news\/macau-casino-stocks-languish-on-new-money-transfer-rules\/","title":{"rendered":"Macau Casino Stocks Languish on New Money Transfer Rules"},"content":{"rendered":"

Macau casino stocks extended a now lengthy slump Monday on news that the Special Administrative Region (SAR) is attempting to criminalize unlicensed money transfers when the intent of the exchanged cash is for wagering purposes.<\/p>\n

\"Macau
Guests arrive at The Londoner in Macau on the Cotai Strip. Macau casino stocks slumped on news of a potential crackdown on money transfer operations. (Image: Getty)<\/figcaption><\/figure>\n

China, of which Macau is a territory, forbids visitors to the casino center from entering with more than $5,000 in cash, but that rule has long been circumvented with bettors using local money exchangers<\/a> to whom cash was sent prior to the bettor\u2019s arrival. China also limits the amount its citizens can withdraw from bank accounts via debits when traveling outside the country, furthering demand for Macau money transfer operations, but Beijing is clamping down on that system.<\/p>\n

That comes as Macau casino stocks have been trending lower for months<\/a>, prompting some analysts to speculate that the money transfer news could stoke more selling pressure.<\/p>\n

In our opinion, the news about the Macau government\u2019s decision to criminalize money exchange activities could bring some noise and lead to near-term share price weakness,\u201d said Citigroup analysts George Choi and Ryan Cheung in a new report.<\/p><\/blockquote>\n

Under the latest iteration of the \u201c\u2018Law to Combat Gambling Crimes,\u201d those running money transfer businesses with the primary purpose of serving customers who intend to use the funds at Macau casinos could face up to five years in prison if they don\u2019t have proper licensing.<\/p>\n

Money Transfer Rules Could Pinch Premium-Mass Players<\/h2>\n

Potentially further weighing on Macau gaming equities is the notion that the bettors most likely to use money transfer services are premium-mass players or those who wager more than their mass-market counterparts and less than VIPs.<\/p>\n

\n

In the gaming enclave, the premium-mass segment is viewed as more essential than ever to concessionaires because not only do those patrons spend more than mass-market bettors, but also because a previous crackdown on the VIP junket business<\/a> all but crippled that industry and there\u2019s little to indicate a near-term resurgence is likely.<\/p>\n<\/div>\n

\u201cAlthough most players have their own legitimate ways to get their funds over to Macau — and these small money touts are unlikely [to be] the main fund facilitator for premium mass players \u2013 we are afraid that this negative news could add uncertainties and hurt the already fragile investment sentiment against the Macau gaming sector,\u201d added the Citi analysts.<\/p>\n

The volume of cash exchange by unregulated money transfer operators isn\u2019t known, but Bloomberg<\/em> reported that in 2023, Macau authorities detained 10K individuals providing related services.<\/p>\n

Macau Casino Stocks Already \u2018Fragile\u2019<\/h2>\n

Despite a run of mostly solid monthly gross gaming revenue (GGR) data, a Bloomberg Intelligence index of Macau casino stocks is flirting with 170 today after trading north of 240 in May, underscoring lingering weakness in the group and investor apprehension about the status of the stocks<\/a> as value plays.<\/p>\n

This negative news could add uncertainties and hurt the already fragile investment sentiment against the Macau gaming sector,\u201d observed Choi and Cheung.<\/p><\/blockquote>\n

The analysts did note that Macau remains one of the top destinations for outbound tourism by Chinese nationals.<\/p>\n","protected":false},"excerpt":{"rendered":"

Macau casino stocks extended a now lengthy slump Monday on news that the Special Administrative Region (SAR) is attempting to criminalize unlicensed money transfers when the intent of the exchanged cash is for wagering purposes. China, of which Macau is a territory, forbids visitors to the casino center from entering with more than $5,000 in […]<\/p>\n","protected":false},"author":46,"featured_media":321477,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"_acf_changed":false,"footnotes":""},"categories":[69069,10,13592],"tags":[81913,81903,81895],"acf":[],"yoast_head":"\nMacau Casino Stocks Languish on New Money Transfer Rules<\/title>\n<meta name=\"description\" content=\"Macau Casino Stocks Languish on New Money Transfer Rules.\" \/>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/www.casino.org\/news\/macau-casino-stocks-languish-on-new-money-transfer-rules\/\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"Macau Casino Stocks Languish on New Money Transfer Rules\" \/>\n<meta property=\"og:description\" content=\"Macau Casino Stocks Languish on New Money Transfer Rules.\" \/>\n<meta property=\"og:url\" content=\"https:\/\/www.casino.org\/news\/macau-casino-stocks-languish-on-new-money-transfer-rules\/\" \/>\n<meta property=\"og:site_name\" content=\"Casino.org\" \/>\n<meta property=\"article:publisher\" content=\"https:\/\/www.facebook.com\/Casino.OrgNews\" \/>\n<meta property=\"article:published_time\" content=\"2024-08-12T16:56:28+00:00\" \/>\n<meta property=\"article:modified_time\" content=\"2024-08-12T17:26:18+00:00\" \/>\n<meta property=\"og:image\" content=\"https:\/\/www.casino.org\/news\/wp-content\/uploads\/2024\/06\/1x-1.jpg\" \/>\n\t<meta property=\"og:image:width\" content=\"1200\" \/>\n\t<meta property=\"og:image:height\" content=\"799\" \/>\n\t<meta property=\"og:image:type\" content=\"image\/jpeg\" \/>\n<meta name=\"author\" content=\"Todd Shriber\" \/>\n<meta name=\"twitter:card\" content=\"summary_large_image\" \/>\n<meta name=\"twitter:creator\" content=\"@etfgodfather\" \/>\n<meta name=\"twitter:site\" content=\"@Casino_Org\" \/>\n<meta name=\"twitter:label1\" content=\"Written by\" \/>\n\t<meta name=\"twitter:data1\" content=\"Todd Shriber\" \/>\n\t<meta name=\"twitter:label2\" content=\"Est. reading time\" \/>\n\t<meta name=\"twitter:data2\" content=\"3 minutes\" \/>\n<script type=\"application\/ld+json\" class=\"yoast-schema-graph\">{\"@context\":\"https:\/\/schema.org\",\"@graph\":[{\"@type\":\"WebPage\",\"@id\":\"https:\/\/www.casino.org\/news\/macau-casino-stocks-languish-on-new-money-transfer-rules\/\",\"url\":\"https:\/\/www.casino.org\/news\/macau-casino-stocks-languish-on-new-money-transfer-rules\/\",\"name\":\"Macau Casino Stocks Languish on New Money Transfer Rules\",\"isPartOf\":{\"@id\":\"https:\/\/www.casino.org\/news\/#website\"},\"primaryImageOfPage\":{\"@id\":\"https:\/\/www.casino.org\/news\/macau-casino-stocks-languish-on-new-money-transfer-rules\/#primaryimage\"},\"image\":{\"@id\":\"https:\/\/www.casino.org\/news\/macau-casino-stocks-languish-on-new-money-transfer-rules\/#primaryimage\"},\"thumbnailUrl\":\"https:\/\/www.casino.org\/news\/wp-content\/uploads\/2024\/06\/1x-1.jpg\",\"datePublished\":\"2024-08-12T16:56:28+00:00\",\"dateModified\":\"2024-08-12T17:26:18+00:00\",\"author\":{\"@id\":\"https:\/\/www.casino.org\/news\/#\/schema\/person\/f4cecf70a5032bc4e60eb73fc86d4a85\"},\"description\":\"Macau Casino Stocks Languish on New Money Transfer Rules.\",\"breadcrumb\":{\"@id\":\"https:\/\/www.casino.org\/news\/macau-casino-stocks-languish-on-new-money-transfer-rules\/#breadcrumb\"},\"inLanguage\":\"en-US\",\"potentialAction\":[{\"@type\":\"ReadAction\",\"target\":[\"https:\/\/www.casino.org\/news\/macau-casino-stocks-languish-on-new-money-transfer-rules\/\"]}]},{\"@type\":\"ImageObject\",\"inLanguage\":\"en-US\",\"@id\":\"https:\/\/www.casino.org\/news\/macau-casino-stocks-languish-on-new-money-transfer-rules\/#primaryimage\",\"url\":\"https:\/\/www.casino.org\/news\/wp-content\/uploads\/2024\/06\/1x-1.jpg\",\"contentUrl\":\"https:\/\/www.casino.org\/news\/wp-content\/uploads\/2024\/06\/1x-1.jpg\",\"width\":1200,\"height\":799,\"caption\":\"Guests arrive at The Londoner in Macau on the Cotai Strip. 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