Macau’s casino operators lost billions of euros last month after Chinese government’s statements. The loss was quickly seen in the stock market, where different casinos registered around 20 and 30% of their value in the stock exchange. Luckily, this situation didn’t affect any client or bettor, and you can keep playing your favorite casino games by opening a bet365 account with no restrictions.
In case you don’t know, Macau is a special administrative region of China and one of the top destinations for gambling tourism. Actually, the casino industry in Macao is seven times larger than in Las Vegas. Even when they are not famous in Hollywood, the casino activity is one of the highest in the world, transforming Macau into one of the richest economies in the world.
Big casino losses
Right after the Chinese government informed about new supervision proposals for casino operators, different gambling companies registered huge losses in the Hong Kong stock market. These proposals include reinforcements in the control of the gambling industry and constant supervision of the casino activities.
- Melco: 20% losses
- Galaxy Entertainment: 20% losses
- MGM China: 25% losses
- SJM Holdings: 25% losses
- Sands China: 30% losses
- Wynn Macau: 30% losses
When we combine the losses of the companies mentioned above, we get a total loss of over 11 billion euros.
Macao’s government announcement
To sum up, Macao’s government announced a 45-day public consultation to different casinos. Also, this inquiry would include a proposal to supervise the gambling industry directly. During the last decade, these supervisions and measures taken by the Chinese government have been increasing. The objective is to avoid underground banking and other illegal activities related to gambling.
In general, China has been working on strengthening the control of the region’s economy. Part of this control includes the supervision of several sectors such as private education and technological companies. Regarding casinos, China’s inquiry is pushing casinos to add government representatives to their boards to supervise their operations and guarantee the legality of these operators. Fortunately, the best online casinos are secured and your winnings can be also a sure thing! Take a look at the best online casino reviews we have for you and start winning big.