Consultant says that introducing Chinese digital currency to Macau casinos would benefit mass gambling.

The adoption of the digital yuan in Macau for the transaction of gaming chips could, in the long term, benefit mass and 'premium' mass gambling, since cross-border money transfer processes for mainland Chinese consumers would be easier, indicated the consultancy Sanford C. Bernstein in a report cited by the GGRAsia portal.

“The digital yuan would allow for greater scrutiny and control [by the Chinese government] over money flows,” wrote Sanford Bernstein analysts Vitaly Umansky and Tianjiao Yu in their report, adding that the measure would also allow for easier money transfers and eliminate the need to use intermediaries such as junkets or pawn shops to conduct transactions, the consultancy indicated.

The authors of the report indicated that the "internationalization" of the Chinese currency "could greatly increase the likelihood" of it becoming the "standard currency in Macau," while noting that "making a digital revolution in Macau's commerce would, however, be a long process."

It is worth recalling that, at the beginning of December, Bloomberg wrote that several Macau casino operators said they had been approached by the Gaming Inspection and Coordination Bureau (DICJ) “in recent months” to discuss the feasibility of using the digital yuan to purchase gaming chips. The agency added that many junkets are considering shifting their resources to other markets if the use of the e-yuan to purchase chips in casinos is implemented.

The news was promptly denied by the DICJ, which guaranteed that there had been no approach whatsoever to the six gaming operators regarding the use of Chinese digital currency in Macau casinos. ( Ponto Final – Macau)