Phyllis F. January 19, 2015 10:44:40
Junkets first became popular in Macau thanks to a now obsolete law prohibiting casinos from lending money. Macau’s gambling industry continues its steady stream of decline with Macau’s fourth quarter VIP revenue down 29% and mass market revenue down 16%. And who or what is responsible for this slide? Speculations are that on the one […]
Adelson’s wallet takes a tumble on the Forbes list as his Macau casinos continue to bleed cash. A man who has made a $40 billion fortune from the gambling losses of others got a taste of his own medicine this past year. Sheldon Adelson of Las Vegas Sands remains the world’s wealthiest casino tycoon, but […]
Macau casinos are dependent on big-betting public officials supplied by junket operators, an arrangement that is currently at risk due to an anti-corruption campaign. Chinese gambling laws prohibit casinos from operating, so most of the country’s wealthy take their business to Macau. The city has become the world’s number one casino destination over the past […]
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