Wednesday, July 28
The Latest in china
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Blockchain

Bit Mining to Divest Lottery Operations, Focus on Crypto Mining

A leading Chinese cryptocurrency mining enterprise announced today a restructuring of the business to de-consolidate subsidiaries related to its lottery operations. VIE Structure Eliminated Bit Mining Limited is eliminating its variable interest entity (VIE) structure and related Chinese lottery business for nil consideration, the New York Stock Exchange (NYSE)-listed company revealed in a press release. […]
Bit Mining to Divest Lottery Operations, Focus on Crypto Mining
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Industry

Macau Authorities Expect to Double Casino Regulators

The gambling mecca of Macau is set to face tougher regulations as government authorities look to double the number of casino inspectors. Several departments are tipped to be restructured, as the city looks to ramp up its hold over the casino industry.  The move to beef up supervision of the gambling hub comes as the […]
Macau Authorities Expect to Double Casino Regulators
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Blockchain

Sichuan Government Kicks Out Bitcoin Miners

A total of 26 mining farms will shut down by the end of June resulting from an order issued by the municipal government of Ya’an in the Chinese province of Sichuan. China’s Crypto Mining Exodus is Underway Bitcoin mining operators should leave Sichuan, China, by June 25, according to local news outlet PANews, which cited […]
Sichuan Government Kicks Out Bitcoin Miners
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Blockchain

China’s CBDC Available for Exchange via 3,000 ATMs in Beijing

China continues to spearhead efforts to implement a central bank digital currency (CBDC) after its digital yuan experiment expanded with a conversion feature across ATMs in Beijing, news agency Xinhua reported. ATMs Allow Exchange between Digital and Physical Money According to the media report, two major Chinese banks, The Industrial and Commercial Bank of China […]
China’s CBDC Available for Exchange via 3,000 ATMs in Beijing
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Industry

CAC Outlines 4 Measures to Combat Cross-Border Gambling

China authorities have no intention of easing the pressure on offshore gambling groups and activities which continue to solicit its residents to gambling via websites and mobile applications. Cross-Gambling Still an Issue The Cyberspace Administration of China (CAC), the central internet regulatory, oversight and control agency of the country, presented at a meeting of the […]
CAC Outlines 4 Measures to Combat Cross-Border Gambling
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Legal

Las Vegas Sands Brought to Macau Court over $12B in Damages

A lawsuit filed in Macau against Las Vegas Sands (LVS) nearly a decade ago by a former casino license partner is seeking a mammoth compensation from the casino giant, Reuters reports. Claims for 70% of LVS’s Profits Asian American Entertainment Corporation, a company LVS submitted a joint bid for a Macau gaming concession in 2001 […]
Las Vegas Sands Brought to Macau Court over $12B in Damages
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Casino

MGM Resorts-backed Venture to Launch the MGM Name in China

The Diaoyutai State Guesthouse in China has played host to foreign dignitaries like Vladimir Putin, Kim Jong-un, Theresa May, Richard Nixon and others since it opened in the 1950s. It is also the former home of China’s Cultural Revolution, which lasted from 1966 to 1976. While that cultural revolution had a completely different goal in […]
MGM Resorts-backed Venture to Launch the MGM Name in China
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Casino

Macau Might Test the Entire City for COVID-19 as Outbreaks in China Appear

Macau had started down a path of recovery following the COVID-19 debacle and seemed to be ready to beat expectations. However, there have been pockets of outbreaks of the coronavirus in mainland China that are now threatening that recovery. Now, in order to prevent the city from falling victim once again to a major shutdown, […]
Macau Might Test the Entire City for COVID-19 as Outbreaks in China Appear
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Industry

Macau under Threat as Spike in COVID-19 Cases Seen in China

There was a time when it seemed like COVID-19 was almost completely eradicated in most countries, but the pockets of outbreaks show that there is still more work to be done. Macau was hit hard by the pandemic, with the gambling city turning into a ghost town as borders and casinos were forced to be […]
Macau under Threat as Spike in COVID-19 Cases Seen in China
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Casino

Macau Legislators Want to Put Casino Operators Under the Microscope

Next year is a crucial year for Macau’s gaming industry as the city, a Special Administrative Region (SAR) under China’s control, is going to have to issue new gaming licenses to its six casino operators. The future of Las Vegas Sands, Wynn Resorts and others in Asia could depend greatly on how the new licenses […]
Macau Legislators Want to Put Casino Operators Under the Microscope