Las Vegas Sands, MGM Resorts, and Wynn Resorts, the three US-based licensed casino companies in Macau, all saw their stocks decline over the last five days.\u00a0Sands lost 4.5 percent, MGM fell 4.4 percent, and Wynn dropped 6.7 percent.<\/span><\/strong><\/p>\nThe losses might be partially attributed to President Donald Trump targeting $200 billion in tariffs on Chinese imports. Stock markets worldwide retracted on the news.<\/p>\n
Hainan Development<\/b><\/h2>\n
Bloomberg <\/i>reports that at least five Chinese-owned resorts are moving to incorporate cashless casinos into their properties. The financial news outlet believes the games could “provide a boost to Hainan’s tourism-related businesses, while at the same time allowing regulators to avoid many of the money-laundering and capital-outflow risks associated with traditional gambling operations” found in Macau.<\/p>\n
Some recreational gamblers — those who aren’t arriving in Macau via charter jet often facilitated by a VIP junket group — might also prefer the ease and simplicity of cashless tables over the more traditional casino floors found in the enclave.<\/p>\n
That could present a problem for Macau, a region that has lessened its focus on the high roller in favor of the general public after Chinese President Xi Jinping included junkets in his anti-corruption campaign in 2014.<\/p>\n
Tourism plays a critical role in Hainan’s economy, primarily due to its tropical beaches. The central government has long encouraged foreign investment, and in 2009 introduced incentives to make the island “an international destination” by 2020.<\/strong><\/p>\nUS companies with properties in Hainan include Hilton and Marriott.<\/p>\n","protected":false},"excerpt":{"rendered":"
Cashless casinos, or so-called “entertainment bars” that allow patrons to gamble for credits, could jeopardize Macau’s gambling monopoly in the world’s most populated country. Commercial casino gambling is outlawed throughout China, the exception of course being Macau, the Special Administrative Region (SAR) that’s become the richest gambling hub on Earth. But federal courts in the […]<\/p>\n","protected":false},"author":25,"featured_media":81295,"comment_status":"open","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"_acf_changed":false,"footnotes":""},"categories":[60,18,61,13592],"tags":[],"acf":[],"yoast_head":"\n
Hainan 'Cashless Casinos' Win-Win for Resorts, Potential Loss for Macau<\/title>\n\n\n\n\n\n\n\n\n\n\n\n\n\t\n\t\n\t\n\n\n\n\n\n\t\n\t\n\t\n