Global financial market turmoil may undermine Macau recovery: report

The looming global trade war and the continued depreciation of the Chinese yuan may stymie the two-year recovery of Asia’s premier gambling hub.

According to Bloomberg, some Chinese high rollers have decided to stay away from Macau for the past two weeks in anticipation of the brewing financial market turmoil that was triggered by the trade tensions between the United States and China.

Junket operator Suncity Group Holdings Ltd. executive director Andrew Lo noted that some of its clients have opted to stay in the sidelines and wait until the market conditions become favorable.

“The market conditions have more uncertainties, including the potential trade war escalation,” Lo said, according to the news outlet. “High rollers are more cautious, betting less or reducing trips to Macau.”