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‘China’s stricter gaming rules will have minimal impact on NMI’
China’s recent decision to impose stricter rules on its citizens regarding gambling abroad may not have that big an impact on the CNMI.
According to Lt. Gov. Ralph DLG. Torres, the gaming industry plays only a small part in the various integrated resort projects that are set to be established on the island.
Torres, in an email interview, said these integrated resorts also “offers visitors world class accommodations, the beautiful scenery of our island, and complementary industries like restaurants and golf courses.”
“I think the total product we offer to visitors around the world is improving and will prove to make us competitive, not only to gamers, but to a wide spectrum of markets that include families,” Torres said.
Business Insider reported that President Xi Jinping “has officially declared war on the global gambling industry, warning foreign casinos that Chinese citizens will be gambling much less in China, neighboring countries, and the U.S.”
The stern warning from the Chinese leader is a continuation of China’s efforts to curb widespread corruption and gambling among its citizens.
The Business Insider report said one of the steps that the Xi government will be taking is “to cut down on advertisements promoting casinos in Macau.”
“Visa restrictions will also tighten, and even retail gamblers will have their money tracked as the Chinese government will also monitor UnionPay, the only domestic bank card in mainland China,” the report said.
Macau, the Philippines, and Singapore, among others, are expected to feel the impact of the crackdown of the Chinese government on gambling.
Macau’s gaming industry, particularly, has felt most of the blow of China’s crackdown.
Torres said, though, that “China’s continued efforts to curtail widespread corruption and responsibly manage their gaming operations is not at odds with the development goals of the CNMI.”
“Efforts to ensure that the gaming industry is clean and without corruption or organized crime is what may see an overall financial effect to our industry here, but if we look at the non-monetary side of the equation, I believe we will benefit in the longer term,” he said.
