For those unaware, Union Pay card used to have unfettered access to transfer cash to Macau without any regional limits. Slowly slowly it has been reined in. This is not the Rolex trade where watches are hocked in Macau, only to turn up elsewhere to do the round trip again. This is the small fry whose daily gambling was driving recent growth in Macau, particularly the down market casinos such as Studio City.
Take On China Inc. At Your Peril, page-162
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