Tag: Card-Swipe
Macau’s Card-Swipe Crackdown
May 8, 2014
Bloomberg – Wynn Macau Ltd. fell the most in more than two years in Hong Kong trading, leading declines among operators of China’s only legal casinos, amid concern that a crackdown on illegal money transfers will pare demand. The unit of Wynn Resorts Ltd. slumped 8.5 percent, its biggest decline since October 2011, at the close in Hong Kong trading. MGM China Holdings Ltd. (2282) dropped 8.2 percent, while Galaxy Entertainment Group Ltd. fell 7.6 percent. China is cracking down on the use of hand-held card-swipers within casino resorts amid concerns that tens of billions of yuan in illicit funds…