If Macao Adopts China's Cryptocurrency the Casino Industry Could Come Undone
China is forging ahead with a state-sponsored digital currency, and Macao says it may make it mandatory for buying casino gambling chips.
Because the special administrative region is the only place in China where it is legal to gamble, enforcing use of the cryptocurrency could devastate casinos. It would allow the government to more closely trace the money movements of high-rolling gamblers, which could cause VIPs to abandon Macao for other countries.
Casino operators that rely heavily on VIP gamblers, like Wynn Resorts (NASDAQ: WYNN) and MGM Resorts International (NYSE: MGM), could suffer the most.
Source Fool.com
