MACAU/ZHUHAI, China (Reuters) – China’s crackdown on corruption and conspicuous consumption is ever more visible in its impact on Macau, the world’s biggest gambling hub, which makes most of its money from the high rollers who are staying away to avoid Beijing’s scrutiny.
During a recent visit to four of the city’s glitziest casinos, VIP rooms were mostly desolate, with some shuttered and one boarded up, their tables covered with wood and white cloth.
HONG KONG, Feb 9 (Reuters) – Leading China’s anti-corruption
campaign, President Xi Jinping warned Macau last December that
the world’s biggest gambling hub needs to be about more than
baccarat. Now, the reform drive has new champions – the casino
The firms that lead the former Portuguese colony’s $44
billion-a-year gaming business are pledging to spend billions of
dollars on opening more amenities like convention centres and
theatres, and touting their credentials as good employers.
MACAU (Reuters) – By night, Ieong Man Teng was dealing baccarat to gamblers at the Wynn Macau casino. By day, he was mobilising thousands of fellow dealers to protest on the street for better working conditions and higher pay.
That made him one of the people on Beijing’s watch list earlier this year in Macau, the world’s biggest gambling hub.
MACAU, Dec 19 (Reuters) – By night, Ieong Man Teng was
dealing baccarat to gamblers at the Wynn Macau casino. By day,
he was mobilising thousands of fellow dealers to protest on the
street for better working conditions and higher pay.
That made him one of the people on Beijing’s watch list
earlier this year in Macau, the world’s biggest gambling hub.
HONG KONG (Reuters) – As Chinese President Xi Jinping arrives in Macau this weekend for his first official visit in five years, the message from Beijing is clear: the world’s biggest gambling center cannot remain a one-industry town.
Xi’s pervasive anti-graft campaign contributed to a disastrous year for major casino companies, which have lost a combined $58 billion in market value over the past six months as VIPs stayed away.
HONG KONG, Dec 11 (Reuters) – Hong Kong cleared large parts
of the main pro-democracy protest site on Thursday as police
hauled activists away one by one, marking an end to more than
two months of street demonstrations that have choked parts of
the Chinese-controlled city.
Groups of up to four police started arresting protesters at
the Admiralty site, next to government buildings and the Central
business area, hours after workers used wire cutters to remove
barricades and dismantle bamboo scaffolding.
HONG KONG (Reuters) – Hong Kong’s High Court has ordered the main protest sites that have choked the financial city for more than two months to be cleared, building up to a final showdown between pro-democracy activists and authorities backed by Beijing.
A local bus company, which was granted an injunction against street blockades at the site in Admiralty, home to government offices and next to the main Central business district, has received an official clearance order from the High Court, according to notices posted in local papers on Tuesday.
MACAU, Nov 30 (Reuters) – Junket operators that connect
China’s wealthy punters to Macau’s casinos are waiting as long
as a year for gamblers to repay billions of dollars of loans,
crippling the business model of an industry that sustains the
world’s biggest casino centre.
These businesses, which lend to high rollers and operate
private gambling rooms, normally collect within 30 days and
charge interest rates as high as 3 percent per month on overdue
balances, according to Macau-based junket consultant Tony Tong.
HONG KONG, Nov 26 (Reuters) – Riot police began clearing a
major pro-democracy protest site in Hong Kong on Wednesday,
following street clashes overnight, and scuffles broke out as
some protesters tried to resist attempts to force them off the
streets, Reuters witnesses said.
Hundreds of protesters remained on Nathan Road, at the heart
of the protest site in the gritty Mong Kok district, brandishing
yellow banners and chanting for “full democracy” in the former
British colony, but were pushed back by the large number of
HONG KONG (Reuters) – October was the worst month on record for casino revenues in the world’s biggest gambling hub Macau as China’s pervasive war on corruption, combined with fewer tourists and slowing economic growth, dampen the appetite to wager.
Gambling revenues for the month fell some 23 percent year-on-year, the sharpest drop since the former Portuguese colony started keeping records, government data showed on Tuesday.