President Xi Jinping has led a years-long anticorruption campaign that clamped down on money laundering and gambling.“The government has an inherent conflict,” gaming consultant David Green told AFP. “It needs to be seen by the central government to be promoting nongaming, but… it has to be cognizant of maintaining its revenue stream.”
In December, the government awarded new decade-long concessions to all incumbents, effectively keeping the status quo but adding new requirements for nongaming investment.The firms have since pledged a total of $14.9 billion on projects including theme parks, convention and exhibition centers, fine dining and performance venues.
Sou pointed to the downfall of “junket king” Alvin Chau, who was sentenced to 18 years in jail last week for hosting illegal gambling on a vast scale.