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ISSUE 118 - Feb 2014
What are your expectations for the gross gaming revenue growth of Macau’s gaming industry in 2014?
Growth above 10 percent
Growth from 0 to 10 percent

Cross-border cash flow controls mooted: report

Posted: 7/5/2013 12:24:15 PM
Rating:     0% ( votes)

Financial Intelligence Office director Deborah Ng Man Seong says the government is considering a new arrangement for declaring cash when crossing the border, reports the Portuguese news agency Lusa.

Lusa quoted Ms Ng as saying the government was “analysing the feasibility of implementing a declaration or notification requirement” of certain amounts to meet recommendations by the international Financial Action Task Force on Money Laundering.

There is no schedule in place for introducing the changes.

Ms Ng said although money laundering was a crime here, there was no criminal sanction for failing to declare funds carried across the border or for lying to officials.

Beijing bans mainlanders from bringing more than RMB20,000 (MOP26,000) into Macau.

Other Macau Latest News

Wynn Macau H1 net profit slips to HK$3.65 bln

Casino takings are main driver of 9.2 pct rise in revenue to HK$15.3 bln

Gaming, tourism keep current account in surplus

MOP428 bln of services exports in 2013 dwarf merchandise trade deficit

YiDa plans casino-resort in Antigua and Barbuda

US$1 bln resort will have racecourse and the Caribbean’s biggest casino

Milan Station to open more outlets in Macau

Seller of expensive handbags does booming business in city’s casinos in H1

Aquis Group registers its brands in Macau

But casino developer is reticent about any plan to enter the Macau market

Wynn Macau doubles its 2014 budget for design work

Revamping one casino-resort and building another costs more than it thought

Galaxy Entertainment H1 net profit hits HK$6 bln

Revenue grows 25 pct to HK$38.4 bln, EBITDA increases 26 pct to HK$7.3 bln

Chui aiming to force hand of casinos on purchasing

Will try to make gaming companies, govt depts buy supplies made in Macau

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