Good morning. Cash is king. That fact hasn’t gone unnoticed by authorities in mainland China, as they try to stem every outflow of capital from the country. The death of junkets in Macau has led to the surge in illicit money exchangers, with efforts against the operations intensifying on both sides of the border, however, this will most likely only affect VIP play, notes an expert. Also in Macau, the premium mass segment appears to be doing well, with Galaxy in particular expanding market share as wagers rise.
What you need to know
- Macau legislative amendments to target illicit money exchange operations follow mainland China crackdown.
- Citigroup’s survey reveals Macau’s premium mass wagers increased, with Galaxy Entertainment expanding its market share.
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AGB Intelligence
MACAU
Mass play largely unaffected by money exchange crackdown
Macau is pushing forward with efforts to curb illegal money exchange operations which have plagued its casinos, in particular following the elimination of the junket sector. New legislative efforts should have an impact on VIP, but are unlikely to curb mass GGR, notes gaming scholar Carlos Siu. Further efforts to curb the illegal activity are expected on both sides of the border, as China urges Macau to help tap the money outflow.
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