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Junket operators in Macau being penalized by the authorities | 14 February 2013 : WorldCasinoYellowPages

Junket operators in Macau being penalized by the authorities

... 14 February 2013

Junket operators in Macau being penalized by the authorities

A downward trend in the shares of the casino junk operators in Macau to the tune of six to eight percent was noticed on Wednesday due to the expected crackdown by the authorities prior to the celebrations in the wake of the New Year approaching fast. The unidentified news spread as a warning to the concerned persons and the companies feeding the high rollers in Macau’s VIP casino rooms in China that feared the developments with few of them go in hiding. The Chinese law enforcement agencies seem to ban such unauthorized operations of the gambling concerns. Similar things were observed in December too when many of the junket operators were prosecuted in Macau and the mainland too resulting in considerable decrease in their share values.

Success Universe Group’s deputy chairman, Hoffman Ma was heard of saying that he thought that Beijing was in no way against the money supply to Macau but at the same time the authorities were seriously concerned about the citizens who must not utilize the secret gambling channels. It is noteworthy that the group is the proprietor of the Ponte 16 with its joint activities with SJM Holdings too. With no more arrests for a long gap, the VIP business went on smoothly but that may not last long.

With the report that the Chinese authorities may go against the advertisements of pricey liquors, jewellery, rare stamps and gold coins etc through the TV and radio channels; the concerned items’ shares have also dipped to great extent. Airing of incorrect prices of such items resulting in bad social ethics was on the increase, say the officials of the State Administration of Radio, Film & Television. These are the major reasons of the Chinese authorities banning illegal gambling activities to end corruption. The incoming president of the state, Xi Jinping is dead against the big tigers and the small ones involved in such illegal trades and the stamp collectors too. The latter are treated with an iron hand in the western states that ban them completely from sex and put them in isolation for a long time with their landladies disposing off their stamp collections for recovering their apartments’ dues. A great punishment in deed, better avoid such activities.

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