Reuters on the consequences of the report that Macau would limit ATM cash withdrawals as part of a Beijing-led crackdown on illicit outflows
- The South China Morning Post reported late Thursday that Macau would halve the amount of cash that China UnionPay cardholders can withdraw from automated teller machines (ATMs) in the territory
- Report triggered sharp drops in shares of U.S. and other casino operators
And ... weirdly (and logically!):
- ATM withdrawals are not a major source of cash for most Chinese gamblers, especially VIP players known as high rollers
