In early August, US President Donald Trump announced the ban on TikTok and the popular Chinese messenger, WeChat. Wynn Resorts, which owns a gambling establishment in Macau, spoke about this.
As noted by a spokesman for Wynn Resorts, they cannot yet assess the damage that the ban will cause to their business. American companies, even outside the US, have been banned from using this messenger, and several American casino owners in Macau, notably Wynn Resorts, MGM Resorts and Sands, will be at a disadvantage.
Fears have been raised that if they are unable to communicate with their customers through WeChat, they could go to their competitors, which are Melco Resorts, SJM Holdings and Galaxy.
Wynn was advised to stop these actions before they killed global commerce. In their opinion, this situation will not benefit anyone. This creates instability in the capital market, and this, in turn, leads to the problem of lack of funds in the credit markets.