MACAU WARNS ON ONLINE GAMBLING
The Gaming Inspection and Coordination Bureau has warned operators in Macau about online gambling and urged them to adhere to local and foreign laws on the segment.
Macau.- Suncity Group was accused of offering illegal online gambling and proxy betting to Chinese nationals and triggered local regulators. That’s why the Gaming Inspection and Coordination Bureau (DICJ) issued a warning on Macau operators about online gambling.
The regulatory body issued a warning to gaming concessionaires and urge them to adhere to local and foreign laws on gambling.
Even as Suncity denied the allegations, saying it doesn’t operate any online gambling activities, the DICJ decided to warn them. Director Paulo Martins Chan reminded that the government doesn’t allow any promotion of online gambling and placing bets via telephone.
Macau’s performance in July
Analysts at Sanford C. Bernstein have indicated that average daily revenues between July 1-7 reached the €94.2 million mark in Macau. This figure represents a 3% increase when compared to the same period in 2018.
The brokerage also said that the estimates for July are the same as previous ones and that it will see an increase between 2% and 4% from the same month in 2018. “Year-on-year comparison began to ease in June as expected, and it should continue as we head into July. Recall GGR was quite robust in early 2018 until US-China trade tensions heightened beginning last summer,” the brokerage added. Moreover, analysts noted that there could be a rebound in VIP.
“Weaker than expected macro data for June, along with the continued tensions in U.S.-China trade relations, however, cast uncertainty over the GGR recovery. If a trade war sustains over an extended period, it will likely pose as a headwind to China’s economy and gaming spend from China’s high net worth individuals in Macau,” said the analysts.