Casino sector groups have started quietly withdrawing personnel from China after the arrest of 18 employees of Australia’s Crown Resorts.
“This is a very serious issue for Crown and other casino operators, which target Chinese gamblers,” Raymond Chan, managing director of Morgans, an Australian stockbroker, said. “It adds a new layer of regulatory risk.”
After the arrests there have been large-scale staff departures from Crown and other Australian operators involved in similar activities in China, as well as repatriation of some personnel from Macau, said Daiwa Capital Markets, citing its own “ground checks”.
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