The SJM Holdings executive added she believed that Macau would be able to maintain in 2018 a year-on-year growth in gaming revenue if the city managed to attract more visitors if the government offered further policy incentives to the sector and if Macau managed to continue improving its hotel services and tourism offerings. “But we still have billions of people from mainland China,” she further remarked on the sidelines of a company event that day, in response to media questions on the topic. “I think as with the start of any other policy, there will be a certain impact seen here,” SJM Holdings’ Ms Leong said in her Tuesday comments.

Under the old rules, there was an ATM annual withdrawal cap of CNY100,000 per bank card, but no protocols to stop people having multiple cards attached to a single account or multiple accounts with different banks. In the past, China’s regulatory definition of “overseas” transactions has included ones performed in Macau.

But the casino boss said any negative effects could be mitigated by an increase during 2018 in overall visitor numbers to the city.Ĭhina’s State Administration of Foreign Exchange announced on Saturday that from January 1 mainland Chinese would be restricted to an annual CNY100,000- (US$15,366-) limit per person for cash withdrawals when using overseas automated teller machines (ATMs). So said on Tuesday Angela Leong On Kei (pictured), an executive director of Macau casino operator SJM Holdings Ltd. Newly-announced rules from Beijing regarding an annual limiton the aggregate amount of cash people can withdraw from their mainland Chinese bank accounts while overseas could have some “impact” on Macau’s gaming business. Newsdesk Latest News, Macau, Top of the deck

China’s ATM cash ruling to hit casinos: SJM exec

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