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Strict New Currency Regulations

based global brokerage Sanford C. Bernstein & Company reports that it is too early to discuss in more detail how more restrictive foreign exchange rules will joker123 online have an impact. To Macau's Casino Industry?

Beijing is tightening its belt:


According the revised rules last Friday were first disclosed through judicial interpretations of Beijing officials on the last day of January, which could seriously harm casino brokers. As these rules usually depend on the transfer of funds between Macau and mainland China by underground banks.



The regulation emphasizes:


But analysts Kelsey Su, Vitaly Umanski and Unichli of Sanford C. Bernstein and Company's Hong Kong branch explained that the new rules are correct. Published by the Attorney General's Office and the Supreme People's Court, which only targets illegal activities. For example, to maintain a matching source of funds for buyers and sellers of local RMB

Analysts at Sanford C. Bernstein & Company said that the biggest consequence of this revised regulation is that it appears to be giving "more enforcement tools to targeted activities, most of which are beyond what is allowed". Therefore, the extent of the announced action will ultimately determine the impact of the new rules on Macau's local garbage operators and casino customers.


Report by Sanford C. Bernstein and company analysts ..


"Finally, law enforcement will be the key to this happening. It is too early to say that the impact on Macau is now too early. If strict rules are enforced and the government's action on various forms of capital flows is broad, the impact should Is serious.


Potential disadvantages:


If authorities have adopted stricter enforcement policies, analysts at Sanford C. Bernstein and Company explain that "brokers and small brokers" are the people most affected. "Transferring a large amount of funds outside may lead to "increased bets under the table", which will adversely affect the VIP bet revenue of more than 30 Chinese casinos. Macao


According to a report by Sanford analysts, online casino C. Bernstein and the company ..


"The view of large brokers is that the rules are broad enough that there are always many ways to use creative mechanisms. Another effect may be the combination of casino broker groups to build a broader capital base.


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