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Chinese President Wants Stricter Control on Macau Gambling
Sunday December 21,2014 : CHINESE PRES WANTS STRICTER CONTROLS ON MACAU GAMBLING
Xi Jinping spurred by national anyi-corruption drive.
Perhaps motivated by a widespread drive against corruption in China, the vast country's president, Xi Jinping, called for tighter controls over gambling as he ended a brief visit to the Macau special region this week.
The Chinese leader called on regional authorities to strengthen supervision and improve the regulation of gambling on the island, which is visited by millions of Chinese gamblers every year.
Macau, where the local government derives more than 85 percent of its revenues from the gambling industry, this week celebrated the fifteenth anniversary of its return to China following colonial rule.
Chinese media said the island now faces the challenge of finding other income streams to diversify its economy, reporting that the Macau's chief executive, Fernando Chui Sai-on, said the government would "undertake a review" of the casino industry in spring.
Media reports last week revealed that China is set to launch a major crackdown on the multibillion-dollar flow of illegal funds through the former colony’s casinos, led by the Ministry of Public Security.
The initiative will see the ministry's Economic Crimes Investigation Bureau given access to all records of transfers through the UnionPay bank payment system to identify suspicious transactions.
The bureau is leading Operation Fox Hunt, aimed at extraditing corrupt officials who have allegedly fled overseas and funnelled millions of dollars in illicit funds out of China.
The Chinese news agency Xinhua reported that Xi Jinping spoke Saturday about China’s resolve to strengthen the “one country, two systems” policy that applies to China's relationships with former Western dominated colonies Macau and Hong Kong, state news agency Xinhua said, quoting the president as saying:
"No matter what difficulties or challenges we may encounter, they could never shake our confidence and resolve to uphold the principle and advance the practice of 'one country, two systems.
"Never in history have we been closer to the goal of the great renewal of the Chinese nation and never in history have we had greater confidence and capability to realise this goal.”
Pro-democracy "umbrella" demonstrations in Hong Kong, which ended a week ago after two-and-a-half months, have called into question China’s control over the territory, Chinese media have speculated.
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2017 Aussie Millions Event 1 -
The Melbourne-based player bested a field of 1,565 entries - 245 up on last year's equivalent - to end up in the heads up with New Zealnad's Qiang Fu, but not before both he and Qiang had narrowly escaped at the four-handed stage when they were the low stacks.
Swiss Reject idea to Block Gambling Websites -
The Legal Affairs Committee of the Swiss National Council has nixed new regulations which would have blocked access to online gambling sites in Switzerland, according to local media reports Tuesday.
Growth Ahead For Online Gambling -
Transparency Market Research has issued a teaser on its latest international online gambling and betting survey, forecasting that the industry will grow at a Compound Annual Growth Rate (CAGR) of 10.8 percent by 2024.
New Qubit software For SkyBetting -
#qubit Sky Betting & Gaming aims to top its record 50 percent revenue growth last year with new player differentiation software and expertise provided by the Qubit company.
Slotfather II Slot Launching -
#betsoft The first is a sequel to the popular gangster-themed online slot Slotfather, unsurprisingly titled Slotfather II, whilst the other is a new 243 ways-to-win game titled Fa Fa Twins..
Massachusetts Online Lottery Bill -
Flanagan's confidence was clearly boosted by the bill's success in the Senate last year, although it was not developed by the House and ran out of time.
Italy Doing Well With Online Sports betting -
The latest numbers from the Italian regulator show that online sports betting remains king when it comes to internet gambling in the market, generating Euro 391.8 million in turnover in December 2016.
Michigan To Reintroduce Online Gambling Bill -
#Michigan state Sen. Mike Kowell's staff have confirmed that the senator plans to reintroduce his online gambling legalization bill, which failed to make it through the last legislative season.
MGM Buys DC office building For lobbying team -
#MGM Resorts International has bought a new Washington, D.C., office building for its in-house lobbying team, led by former chief counsel to the now retired Nevada Sen. Harry Reid, Ayesha Khanna.
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