Horse racing authorities are intent on closing the net on exchange CITIbet, but leading officials in the sport admit “there is no silver bullet” and say they will need government and law enforcement assistance.
Horse racing administrators have long talked tough about outlaw betting operators, but it appears key members of the Asian Racing Federation are ready to put words into action with the formation of a regional taskforce to combat illegal gambling. Respected Jockey Club CEO Winfried Engelbrecht-Bresges has called for a unified approach from key stakeholders to tackle the issue of illegal betting – a world he suggested is becoming dangerously out of control as the internet renders borders “irrelevant.”
When the mainland Chinese government's anti-graft campaign began to bite into Macau's gaming revenue last year, many analysts suggested the big players had fled to safer ground in the then-booming Chinese stock market.But that bubble has now burst, with the Shanghai Composite Index seeing its worst daily fall in eight years in August, sending shockwaves through global bourses. If that boom is now well and truly over, is there any argument for a corresponding turnaround in Macau?