When Xi Jinping visits Macau in December to celebrate the 15th anniversary of Portugal returning its colony to China, local officials will greet the Chinese leader with huge fanfare.
However, the warm welcome will mask concerns about the impact that his anti-corruption campaign is having on the territory’s lifeblood: casinos.
Shares in the six big casino operators have plunged 27-38 per cent this year because of the slowing Chinese economy, tighter immigration rules and measures to tackle money laundering. But experts say the biggest factor has been the anti-corruption push that is forcing high-rolling Chinese “VIP” gamblers to stay at home.
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