Tuesday, April 30, 2013

Gamblers Not So Anonymous: Beijing Keeps Closer Eye on Macau

Gamblers Not So Anonymous: Beijing Keeps Closer Eye on Macau: "Rather than signalling a crackdown on Macau's lucrative gambling industry, casino executives say the target is those Chinese officials using public money or pledging state assets to gamble - money that could otherwise be invested in businesses.

For example, Yang Kun, a vice president at Agricultural Bank of China , owed Macau casinos 3 billion yuan ($490 million) in gambling debts, while local media have reported former high-flying politician Bo Xilai laundered money through Macau. There has been no official ruling on either case."

'via Blog this'

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