{"id":8262,"date":"2021-10-04T00:00:00","date_gmt":"2021-10-04T00:00:00","guid":{"rendered":"https:\/\/www.mundovideo.com.co\/en\/asia\/china-casino-crackdown-doesnt-pose-a-major-challenge-to-the-big-casino-operators-in-asia\/"},"modified":"2021-10-04T00:00:00","modified_gmt":"2021-10-04T00:00:00","slug":"china-casino-crackdown-doesnt-pose-a-major-challenge-to-the-big-casino-operators-in-asia","status":"publish","type":"asia","link":"https:\/\/www.mundovideo.com.co\/en\/asia\/china-casino-crackdown-doesnt-pose-a-major-challenge-to-the-big-casino-operators-in-asia\/","title":{"rendered":"China casino crackdown doesn\u2019t pose a \u2018major challenge\u2019 to the big casino operators in Asia"},"content":{"rendered":"<p style=\"text-align:justify\"><span style=\"font-size:12pt\"><span style=\"font-family:Calibri,sans-serif\"><span style=\"font-family:&quot;Arial&quot;,sans-serif\">The chief executive of MGM Resorts International (MGM), Bill Hornbuckle (pictured), brushed off concerns about a Chinese government crackdown crimping profits in the world&rsquo;s largest gambling market of Macau, saying he doesn&rsquo;t view it &quot;as a major challenge.&quot;<\/span><\/span><\/span><\/p>\n<p style=\"text-align:justify\">&nbsp;<\/p>\n<p style=\"text-align:justify\"><span style=\"font-size:12pt\"><span style=\"font-family:Calibri,sans-serif\"><span style=\"font-family:&quot;Arial&quot;,sans-serif\">His concerns that China&#39;s new regulatory attempts to exert tighter controls in the gambling enclave would fundamentally alter the growth opportunities in the market.<\/span><\/span><\/span><\/p>\n<p style=\"text-align:justify\">&nbsp;<\/p>\n<p style=\"text-align:justify\"><span style=\"font-size:12pt\"><span style=\"font-family:Calibri,sans-serif\"><em><span style=\"font-family:&quot;Arial&quot;,sans-serif\">&ldquo;Until proven wrong, I&#39;m not and we&#39;re not overreacting to what is being hyped or said. We are hoping rational minds control in the end because this is the Macau economy.&rdquo; <\/span><\/em><span style=\"font-family:&quot;Arial&quot;,sans-serif\">Bill Hornbuckle said.<\/span><\/span><\/span><\/p>\n<p style=\"text-align:justify\">&nbsp;<\/p>\n<p style=\"text-align:justify\"><span style=\"font-size:12pt\"><span style=\"font-family:Calibri,sans-serif\"><span style=\"font-family:&quot;Arial&quot;,sans-serif\">Macau has operated as the gambling capital of Asia for two decades, as the only jurisdiction under Chinese rule allowed to operate casinos. Revenues generated from the country&rsquo;s high-rollers have become increasingly important to American casino operators like MGM, Wynn Resorts (WYNN), and Las Vegas Sands (LVS), with Macau&rsquo;s casinos generating six times the revenue of casinos in Las Vegas, earning $360 billion in 2019, according to Bloomberg data.<\/span><\/span><\/span><\/p>\n<p style=\"text-align:justify\">&nbsp;<\/p>\n<p style=\"text-align:justify\"><span style=\"font-size:12pt\"><span style=\"font-family:Calibri,sans-serif\"><span style=\"font-family:&quot;Arial&quot;,sans-serif\">So, when Macau&rsquo;s Secretary for Economy and Finance announced last month that it would begin a review of the casino industry to tighten government oversight over operators, that sent stocks plummeting. Shares of Macau casino operators shed a third of its value, roughly $18 billion in one day.<\/span><\/span><\/span><\/p>\n<p style=\"text-align:justify\">&nbsp;<\/p>\n<p><span style=\"font-size:12pt\"><span style=\"font-family:Calibri,sans-serif\"><span style=\"background-color:white\"><span style=\"font-family:&quot;Arial&quot;,sans-serif\"><span style=\"color:#333333\">No Copyright infringement intended. Video\/Photo Unknown Direct for credits\/issue or text us +57 3606412 &#8230;&nbsp;<\/span><\/span><\/span><span style=\"background-color:white\"><span style=\"font-family:&quot;Arial&quot;,sans-serif\"><span style=\"color:#333333\">| Respect to Photographers &amp; Influencers<\/span><\/span><\/span><\/span><\/span><\/p>\n","protected":false},"excerpt":{"rendered":"<p>Chinese government crackdown crimping profits in the world\u2019s largest gambling market of Macau<\/p>\n","protected":false},"author":1,"featured_media":5601,"menu_order":366,"comment_status":"open","ping_status":"open","template":"","format":"standard","meta":{"inline_featured_image":false,"_genesis_hide_title":false,"_genesis_hide_breadcrumbs":false,"_genesis_hide_singular_image":false,"_genesis_hide_footer_widgets":false,"_genesis_custom_body_class":"","_genesis_custom_post_class":"","_genesis_layout":"","footnotes":""},"categories":[],"tags":[4160],"class_list":["post-8262","asia","type-asia","status-publish","format-standard","has-post-thumbnail","tag-etiquetas-macau-gambling-taxes-casinos","entry"],"yoast_head":"<!-- This site is optimized with the Yoast SEO plugin v25.6 - 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