Macau ponders future even as tourists and gamblers return

This photo taken on January 17, 2023 shows tourists from mainland China strolling down a street in the southern Chinese enclave of Macau. AFPPIX: Macau's streets were packed in the run-up to the Lunar New Year after pandemic controls were abruptly lifted but it is far from business as usual as the Chinese casino hub wrestles with questions about its future.

President Xi Jinping has led a years-long anti-corruption campaign that clamped down on money laundering and gambling. In December, the government awarded new decade-long concessions to all incumbents, effectively keeping the status quo but adding new requirements for non-gaming investment. Sou pointed to the downfall of “junket king” Alvin Chau, who was sentenced to 18 years in jail last week for hosting illegal gambling on a vast scale.

“China’s multi-year campaign against capital outflow and cross-border gambling carried on, rather than eased,“ they wrote earlier this month.Last month, Macau dismantled most of its pandemic controls and reopened its borders, following Beijing's abrupt decision to abandon its signature zero-Covid policy.

Source: News Formal (newsformal.com)

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