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The announcement of increased government control of Macau casinos sent shockwaves through related markets.
Casino actions in Hong Kong and the United States collapsed after Macau on Tuesday announced plans to strengthen “direct supervision” of gambling companies to better monitor their operations, among other proposals. China had previously cracked down on gambling activity in Macau, fearing that high-stakes betting could sometimes be an illicit channel for currency outflows and money laundering.
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