Macau Casino's shares falls against illegal gambling arrest. - page 2.

noorman0

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The motive for this arrest incident may be seen:

Quote from: https://www.bbc.com/news/business-59456143

"Macau's casinos have come under increasing scrutiny in recent months as regulators aim to more closely supervise their operations."

If we look at the population of Macau, it is unlikely that the casino industry will increase if it does not welcome and even facilitate players from other countries, especially China who may contribute the most players. China in this respect seems somewhat protective of their own people where violators (of the population) also don't get any legal consequences, given that it is clear that online betting is illegal.

Chinese law is strange and the country is home to a huge population. As ForeignPolicy.com put it, China is a place “where no vice is legal, but every vice is tolerated.” ~source

Fundamentals Of

sr. member

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China is known for strictly implementing their laws. My Chau should have avoided having an unnecessary brush with the law. He has a gambling business in Macau, he should have just focused all his attention and effort in Macau. Making Chinese people from the mainland travel and visit and gamble in Macau is not illegal, but if he is now bringing the gambling experience in Macau to the mainland, he will definitely be called out by the authorities, and worse penalized and fined for it.

Dave1

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I don't think that the Chinese authorities are going to bend their rule towards favoring gambling, it's far from happening.

And those people? and the network they have build? for sure this will be dismantled by the government and those caught are going to jail or worst executed. This is the risk they gotten themselves here and it's hard to get out once you are caught by the Chinese authoritarian regime.

adzino

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Quote from: fiulpro on November 30, 2021, 01:51:05 PM

Police arrested 11 people regarding:
Money laundering
Illegal Cross border Gambling

Apparently A person was accused of running illegal Cross border Gambling ( Mr. Chau). The Gambling is illegal in China but legal in Macau.

Quote

Mr Chau is the chairman of Suncity Group Holdings. He is also the founder of Suncity - Macau's biggest "junket operator", which organises trips to Asian casinos for wealthy gamblers.

Shares in Suncity Group were suspended from trading on the Hong Kong Stock Exchange on Monday. The company did not immediately respond to a request for comment from the BBC.

Some of the city's biggest operators were also affected, with MGM China down 10%, Wynn Macau losing 8% and Sands China more than 6% lower.

It was all a part of cross border Gambling sindicate Where they had 12,000 gambling agents and 80,000 members all across China which goes to great lengths to show that even if the government bans such things at the end of the day people are gonna find a way and illegal activities are going to harm them more.

What do you think ?.
I think the Chinese authorities should change their ways for sure.

https://www.google.com/amp/s/www.bbc.com/news/business-59456143.amp

The Chinese authorities should change their ways of what? The group of people were running illegal casinos and were laundering money. What else do you expect the government to do other than arresting them? You want them to allow businesses to launch regulated crypto casinos? Well, that is one thing that I doubt will ever happen. The government seems to be against bitcoin and every private crypto currencies. The best they can do is launch their own state owned casino using their own crypto currency.

carlfebz2

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Quote from: crwth on November 30, 2021, 07:13:31 PM

Isn't gambling operations are usually used To launder money? So do syndicates probably want to get their money clean, and they will likely find another way to clean it. Maybe they are going to utilize the crypto currency's now or is They are already doing so.

They could probably recover the losses that they have on their shares quite fast with all the people that are gambling in their operations.

A never ending finding ways on cleaning up their money and we know that this isnt only talking about gambling when it comes to those money launderers on tending to do such intention.There are various ways on how they would do it.

Once a certain method or ways had been bust up then they would just find another one.So its always be a cat and mouse chase which would
really be a never ending one.

crwth

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Isn't gambling operations are usually used To launder money? So do syndicates probably want to get their money clean, and they will likely find another way to clean it. Maybe they are going to utilize the crypto currency's now or is They are already doing so.

They could probably recover the losses that they have on their shares quite fast with all the people that are gambling in their operations.

Hydrogen

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China isn't satisfied with killing the cryptocurrency industry in the country? They're killing their gambling industry too?

Gamblers will no longer feel safe gambling in macau and will take their business to other places in the world. As crypto operations previously based in china have done.

The economy of china will take a hit as tourism and tax revenues associated with macau decline.

Macau is known for supporting high bet limits. Past celebrity gamblers have reportedly placed bets in excess of $1 million dollars in macau. (One publicized case of this was Vegas Dave reportedly betting more than $1 million dollars on Miesha Tate to defeat Holly Holm in the UFC) They normally cater to a wealthy and upper class clientale.

Its anyone's guess as to what the motive behind this move is.

South Park

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Quote from: fiulpro on November 30, 2021, 01:51:05 PM

Police arrested 11 people regarding:
Money laundering
Illegal Cross border Gambling

Apparently A person was accused of running illegal Cross border Gambling ( Mr. Chau). The Gambling is illegal in China but legal in Macau.

snip

It was all a part of cross border Gambling sindicate Where they had 12,000 gambling agents and 80,000 members all across China which goes to great lengths to show that even if the government bans such things at the end of the day people are gonna find a way and illegal activities are going to harm them more.

What do you think ?.
I think the Chinese authorities should change their ways for sure.

https://www.google.com/amp/s/www.bbc.com/news/business-59456143.amp

While I think gambling should be legal everywhere as by itself is not something that brings harm to the population, at the same time we need to observe the laws of the country in which we are residing and avoid problems like this, I mean whatever short term profits they got out of this are going to be way less than what they are leaving at the table by all the money their shares will lose, the fines they will have to pay and the damage to their reputation a scandal like this is going to have.

Vaskiy

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These are just part of the industry. It'll continue to happen unlike any bans and arrests. Maybe for the short term this will have a negative impact over the company share, further things will normalise. Whats the reason for illegal gambling, when the region gives the easiest access to get registered and run the service. Around Macau the life is being run from the tourism and gambling houses. So, surely the people around will look for loop holes to make their living. Rather than imposing strict regulations, it is always good to monitor periodically.

ultrloa

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Quote from: Quidat on November 30, 2021, 03:07:43 PM

Quote from: avikz on November 30, 2021, 02:03:32 PM

Illegal things will keep on happening! There's no way to stop it!

There's no way of stopping it because there would be people who would really be finding out ways or methods for them to deal up various things that they do have in mind specially in gambling because not all counties is open when it comes to gambling and there are people who do really badly likes to play on which they dont have any options but rather going into those possible ways or methods like crossing a country or would make use of VPN if we do talk about online gambling which it isnt surprising that people do end up on this option or method.
Is this something surprising? No its not.

Certain casino's doesn't allowed the usage of VPN so if this will be implemented to all casino then provably this kind of activity will be stop especially if the person who attempt to do it is residing on a country which ban online casinos and there's no way they can access it in that case and if they push to use VPN then provably they will get compromised and been ask something verification by casino and for that they will be traced.

Fortify

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Quote from: fiulpro on November 30, 2021, 01:51:05 PM

It was all a part of cross border Gambling sindicate Where they had 12,000 gambling agents and 80,000 members all across China which goes to great lengths to show that even if the government bans such things at the end of the day people are gonna find a way and illegal activities are going to harm them more.

What do you think ?.
I think the Chinese authorities should change their ways for sure.

https://www.google.com/amp/s/www.bbc.com/news/business-59456143.amp

So one minute this person is a legitimate travel agent, booking trips for people who want to visit Macau casinos, but the next minute when the CCP decides the casino owners are getting too rich (and powerful) they become illegal gambling agents. It is a ridiculous symptom of Xi Jinping's China, they swing from one self generated crisis to another - this is probably quite a convenient distraction to go in the newspapers when the biggest property developers in China are currently collapsing. It'd be fine if it were just the odd casino taken to court, but they put the sledge hammer down on whole industries which just goes to show how politically motivated and faked the charges usually are.

Quidat

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Quote from: avikz on November 30, 2021, 02:03:32 PM

Illegal things will keep on happening! There's no way to stop it!

There's no way of stopping it because there would be people who would really be finding out ways or methods for them to deal up various things that they do have in mind specially in gambling because not all counties is open when it comes to gambling and there are people who do really badly likes to play on which they dont have any options but rather going into those possible ways or methods like crossing a country or would make use of VPN if we do talk about online gambling which it isnt surprising that people do end up on this option or method.
Is this something surprising? No its not.

magneto

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It all comes down to China not allowing gambling.

The money has to go somewhere and whether they like it or not, it is going to end up going through illegitimate routes if legal routes aren't available.

Not surprised though, draconian regulations have never proven to be effective.

madnessteat

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China is one of those countries that is very tough on people who break the laws. So I am not at all surprised by what happened. With the introduction of new technologies, and in China they are introduced in the first place, it becomes more and more difficult to hide illegal activities. On the one hand I do not like such approaches of the Chinese government, but on the other hand for the last 10 years they have achieved very much and seriously strengthened their economy and after all it is all thanks to total internal control.

P.S. I would not like to see this kind of control occur in my country, although I do not violate the laws.

avikz

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Illegal things will keep on happening! There's no way to stop it! There are many things banned in China but did Chinese people adhere to it. Well yes a majority of the Chinese people follow government rules considering how strict the enforcement agencies are but not all.

However, the only solution is to open Chinese market for gambling. It will eliminate this cross border gambling issues and government can earn revenues through taxes.

But Chinese government is very serious about their God like image. That's why they always try to hide their misdeeds. So I don't see China legalizing gambling in any time soon. So this issue will continue as the gamblers will find their ways to continue with their gambling habits.

fiulpro

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Police arrested 11 people regarding:
Money laundering
Illegal Cross border Gambling

Apparently A person was accused of running illegal Cross border Gambling ( Mr. Chau). The Gambling is illegal in China but legal in Macau.

Quote

Mr Chau is the chairman of Suncity Group Holdings. He is also the founder of Suncity - Macau's biggest "junket operator", which organises trips to Asian casinos for wealthy gamblers.

Shares in Suncity Group were suspended from trading on the Hong Kong Stock Exchange on Monday. The company did not immediately respond to a request for comment from the BBC.

Some of the city's biggest operators were also affected, with MGM China down 10%, Wynn Macau losing 8% and Sands China more than 6% lower.

It was all a part of cross border Gambling sindicate Where they had 12,000 gambling agents and 80,000 members all across China which goes to great lengths to show that even if the government bans such things at the end of the day people are gonna find a way and illegal activities are going to harm them more.

What do you think ?.
I think the Chinese authorities should change their ways for sure.

https://www.google.com/amp/s/www.bbc.com/news/business-59456143.amp

Topic: Macau Casino's shares falls against illegal gambling arrest. - page 2. (Read 187 times)