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<Research>UBS Expects Macau's Crackdown on Illegal Money Exchange to Pressure Gaming Industry Sentiment in ST
Recommend 16 Positive 39 Negative 22 |
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According to media reports, Macau police have taken action against two criminal groups suspected of participating in illegal money exchange activities and arrested 42 people in Macau, UBS released a report indicating. These groups operated in jewelry stores and pawnshops near casinos and offered illegal money exchange services to customers. It is reported that the larger group handled transactions worth $590 million (equivalent to a day's gaming revenue in Macau) since October 2024. In UBS' opinion, this news may affect premium players' ability to source funds, but other legitimate funding channels, such as ATMs, may partially offset this impact. The broker also predicted that industry sentiment will be under pressure in the near term, and recent gaming revenue trends should allow the market to assess its actual impact on GGR. AAStocks Financial News |
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