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China Introduces Cashless Casino

By February 18, 2013

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Zhang Baoquan is betting that his new resort, Mangrove Tree Resort World in Sanya on Hainan Island (a Special Economic Zone), set to be the largest in China once complete, will be popular enough to rival the casinos of Macau, an hour away, according to Reuters.
Guests of the resort, which includes 4,000 rooms, convention space, a casino, yet-to-open luxury mall and waerpark, can try their luck at the casino, but punters here who win big get points rather than cash. The points can be used to pay for accommodations, luxury goods, and other material items. The move is an interesting one because casino gambling is illegal in China, except in the former Portuguese enclave of Macau, a Special Autonomous Region that now boasts more than a dozen casinos.
Do you think it will work? Given the Chinese market's love of luxury goods, I'm betting it will.
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