Declaring cash at borders to hurt casinos: Bank

Greater control of cash flowing into Macau will harm mass-market gaming, Barclays Bank says. There would be “some negative impact” on mass-market gaming revenue, the report says. Financial Intelligence Office director Deborah Ng Man Seong told the Portuguese-language news agency Lusa last week the government was considering a new arrangement requiring travellers to declare the cash they carry across the border. She was quoted as saying the government was “analysing the feasibility of implementing a declaration or notification requirement” to meet recommendations by the international Financial Action Task Force on Money Laundering. There is currently no requirement to declare how much cash each tourist brings in and no timetable for introducing the changes.