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With Macau casinos already reeling from China's COVID shutdowns, avoiding more economic turmoil will require balancing diligent oversight with maintaining the junket system's viability. How successful regulators are at walking that tightrope will become clearer as the new junket rules take effect over the coming year. Sky Bet Kickoff to Bitcoin: Cryptocurrency NFL Betting the best NBA & NFL picks and predictions "Guests still want great restaurants, pools, shows, and rooms," said casino consultant Luis Morales. "Gaming is no longer the central draw it once was thanks to the convenience of online options."
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The crackdown comes as China aims to increase oversight of how citizens get funds out of the country and into casino markets like Macau. "Junkets have long operated in the shadows as conduits for illicit money flows from China," said gambling industry expert Jasmine Tan. "Regulators want to shed more sunlight on their activities." Sky Bet MLB Opening Day 2024: Betting on the Start of Baseball Season the best NBA & NFL picks and predictions Some industry groups oppose the legislation as undue government overreach. But supporters point to exploitative practices at some operators as evidence stronger supervision is necessary. Recent scandals include offshore sites refusing withdrawals and unlicensed sportsbooks going bust with player money.
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