'China's Hawaii' Resorts Are Quietly Setting Up Baccarat Tables

The video discusses the concept of cashless gambling in resort hotels, where winnings are in the form of coupons or chips for local spending. It highlights the legal challenges faced by such establishments in China, particularly in Hainan, and the recent approval from Beijing to proceed with this model. The video also explains the strict gambling laws in China, with Macau being the only legal gambling destination. It contrasts the gambling practices in Hainan and Macau, noting the use of a separate currency in Macau.

What is meant by 'cashless' in the context of the gambling setup discussed?

Why has Macau become a significant destination for gambling?