China’s president, Xi Jinping, briefly visited Macau this week and now seeks tougher controls on gambling in the region.
He expects closer supervision and regulatory improvements in Macau, which sees millions of visitors each year.
According to media, China prepares to attack the problem of billions of dollars in illegal funds moving through Macau’s casinos in Operation Fox Hunt. The Ministry of Public Security’s Economic Crimes Investigation Bureau has access to all UnionPay banking transactions as a result of the project to locate suspicious activity.
News publication, Xinhua, quoted the president saying, "No matter what difficulties or challenges we may encounter, they could never shake our confidence and resolve to uphold the principle and advance the practice of 'one country, two systems.
"Never in history have we been closer to the goal of the great renewal of the Chinese nation and never in history have we had greater confidence and capability to realize this goal.”
Macau represents the biggest and most profitable land based operation in the world, with over 35 casinos. Bigger even than Las Vegas, Nevada. Chinese authorities reported gambling revenue for 2013 at $45 billion compared to Las Vegas that is projected at $6.5 billion.
Macau's official statistics show unbelievable double digit growth since 1999. The unemployment rate has decreased from 6.3% to just 1.7% over the years.
catapultaudio
9 years ago
Macau seems like the most amazing anomaly,, I sometimes forget that it is actually within China with all the strange attitudes and rules related to gambling in that country. I really dont think I would feel confident going over there for a gambling holiday like I would Las Vegas.
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jade
9 years ago
Earlier this year the Chinese government decided to give classes on the prohibiting online gambling among other classes like prohibiting prostitution, etc. If they can't get their land casinos in line then they won't be much of an example of gambling in any other genre or modality. Even gambling needs to be honest and safe...
Earlier this year the Chinese government decided to give classes on the prohibiting online gambling among other classes like prohibiting prostitution, etc. If they can't get their land casinos in line then they won't be much of an example of gambling in any other genre or modality. Even gambling needs to be honest and safe for players and if the is what China's government is doing then that is good for all concerned except for the crooks
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nirvana
9 years ago
First HongKong, now Macau ... man the Chinese Gov sucks...
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elvisbektasevic 9 years ago
Yeah he is serious and he is right for this. Someone has billions from illegal job. And a lot of criminals do something with casinos that is bad. President will do something better i know, some new rules and a lot of cops in casinos. No cheaters any more, i hope so.
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