Macau Casinos face tough times. Staff layoffs

[GoFlyKiteNow]

Casinos in Macau are in for tough times, according to CNN. Revenues have fallen dramatically and many have laid off thousands of workers.

One main reason is that the govt of PRC has started to restrict and control visas for its citizens to visit Macau. A measure aimed at prventing outflow of money from the mainland to the gambling tables in Macau.

 

[tommyh]

Exactly. That is why Singapore is in trouble too. Sands was hoping to cash in on these Chinese gamblers for Singapore just like how they were making boat loads of money in Macau. But Macau has become a hot spot for money laundering by these rich mainlanders so they turned off the tap.

Casinos in Macau are in for tough times, according to CNN. Revenues have fallen dramatically and many have laid off thousands of workers.

One main reason is that the govt of PRC has started to restrict and control visas for its citizens to visit Macau. A measure aimed at prventing outflow of money from the mainland to the gambling tables in Macau.