SBC News Voice of the Sports Betting Industry
The Chinese Security Ministry has continued its hardened stance against corruption in Macau, by warning mainland officials and Chinese business leaders that they would be monitored if they visited Macau gambling enterprises.
The hardened approach to Macau casino enterprises is part of President Xi Jinping’s wider ongoing effort to curve Chinese corruption through the ‘Tigers & Flies’ special taskforce. Xi Jinping wants officials to lead the fight by shunning away from practices associated with corruption (in particular money laundering) such as gambling,
To its financial detriment Macau has suffered from the Security Ministry’s anti-corruption measures. Asian news sources have reported that the Ministry has the authority to carry background checks on all national gamblers visiting Macau casinos.
Li Gang Director of Macau’s Liaison Office told Beijing News
As the crackdown on graft is stepped up, some corrupt officials – including executives of some state-owned enterprises – now dare not go to Macau to gamble.
“Moreover, because of measures taken by Macau’s gambling industry, if such officials go gambling in Macau, they will be discovered.”
In December 2014, the Asian gambling centre recorded its first ever growth decline, as city casino revenues fell by 2.6% to $44 billion.
Throughout 2014 Xi Jinping had warned Macau city officials that its industry needed to move away from its reliance on gambling as its main point of enterprise. Asian business analysts have predicted tougher times for the former Portuguese colony, as high value gamblers are now being lured away to other casino centres mainly in South Korea and Australia.
