Digital Yuan Spells End For Junket Operators

China continues to push for a digital Yuan currency means they are actively shutting down any and all online gambling companies it can find and also tracking down digital wallet operators in its attempt to control the digital currency space.

Over recent months the Chinese government has sought out those illegal online operators and those helping to supply digital payments so the government can go ahead to demand that Macau will eventually go to a digital Yuan.

That move makes every junkets operator that work in supplying Macau with their biggest gamblers very nervous. With a digital Yuan there would be no need for junket operators, players would deposit funds into their accounts prior to leaving for Macau and have deposits made back into their account once their gambling trip in completed.

Many junketeers say this is a way of controlling the flow of cash in and out of Macau, in fact this is exactly what the government have said they are doing. The Chinese government say that hundreds of billions each year leave China and by moving to a digital currency the control of outflow can be controlled.

Casino operators generally would accept the digital currency however the fear operators have is that China could impose a daily or yearly maximum limit for Chinese gamblers, this could be a disaster for operators if the limit is low, however observers believe this would be counterproductive for China in damaging the Macau economy, but certainly the move would spell the end of junket operators working in Macau.