Door is about to slam shut on high-rolling holidays to Macau
Beijing is planning a crackdown on Triad-linked “junket” operators who bring high-rolling gamblers into Macau from across China and smooth a money-laundering route that processes billions of dollars every year.
The move, which law enforcement sources say will begin after Chinese new year in late February and will involve police operations in more than six big Chinese cities, is part of an anti-corruption campaign led by Xi Jinping, the country’s president-in-waiting.
“The squeeze has already started on a small scale, but the operators themselves believe that something bigger is coming within the next few weeks,” a Macau gaming industry source with ties to a junket operator told The Times. “There is a feeling that too much money has left China and the new administration will try to rein some of that in.”
... and is clearly designed to bash LVS. Your analogy is romanticising fears borne out of reports on this subject that have thus far been very sanguine.
Further, your post would be better applied on the Wynn board, where folks are twice as concerned about any factors affecting VIP than they are on the LVS board. Sands emphasis is on the mass market, which expanded 30% last year in Macau and likely will again this year.
The same officials that are giving lip service about shutting down the Triad junkets. Who wouldn't like that tough talk to appease the masses. It's the same as the US saying we're cracking down on the Mafia. How has the War on Drugs worked out. It's all just sound bites for the media.
I will guarantee you that some of the same officials in China's government shouting about a crackdown are the same guys going over to Macau and gambling. They do not want to shut down their little fun house...
China's Corruption Crackdown Reaches Macau
Police in mainland China and Macau have recently detained people from at least three of Macau's biggest junket operators. The WSJ's Kate O'Keeffe discusses the jolt to Macau's lucrative gambling industry.