A recent study conducted by the Asia Pacific Association for Gambling Studies (APAGS) reveals gaps in the information disclosure practices of Macau’s major gaming operators over the past decade.
Sponsored by the Macau Foundation, the study evaluates the Corporate Social Responsibility (CSR) practices of these operators from 2012 to 2021.
The study’s data primarily derive from the Macau SAR Government’s annual policy reports, annual reports, and ESG disclosures of the six gaming companies, their websites, and financial results.
According to the findings, the study identifies several critical areas where Macau’s gaming operators lack transparency in their information disclosure practices. These include sensitive information regarding the employment of local workers, the proportion of local workers in management, and the proportion of procurement amounts from local small and medium enterprises (SMEs).
The lead researcher, Zeng Zhonglu, a scholar from the Center for Gaming and Tourism Studies at Macao Polytechnic University, highlights that these aspects encompass the tangible contributions of the SAR government and Macau society to gaming companies.
These contributions include fostering local employment opportunities, supporting SMEs, and enhancing the presence of local employees in management roles. “Without specific data, it is challenging to make accurate assessments,” he commented.
The data are all from the period before the new gaming law took effect on January 1st, 2023. Macau’s new gaming legal framework has become more rigorous, adding requirements for measurements. However, the research team still believes that the study provides a systematic case for quantifying the fulfillment of social responsibilities by gaming companies.

Lack of initiative in responding to expectations
The study highlights that gaming operators in Macau have shown a lack of responsiveness to the expectations of major stakeholders, particularly the government.
Zeng Jia, a co-author of the study, states, “Our analysis reveals a pattern where gaming operators often delay or provide inadequate responses to stakeholder expectations, particularly in areas critical to social responsibility and community engagement.”
The study segments include the government’s requirements in economic diversification, support for SMEs, responsible gaming practices, and the promotion of local workers. The response to promoting local employees may be the weakest among all government expectations from the six gaming companies.
Among these six companies, SJM, Melco, and Wynn have consistently failed to respond positively. Sands responded twice in two years but did not respond in the other eight years. MGM Macau and Galaxy responded relatively actively, albeit with delays of two or three years.
The study also suggests that the lower response to this government expectation may stem from its misalignment with the listing rules of the Hong Kong Stock Exchange. According to these rules, there are principles of equal opportunity and social fairness in human resources management practices.

Contributions to tax revenue
Despite the transparency deficiencies and lack of proactive responsiveness highlighted in the study, these gaming operators have made significant contributions to Macau’s economy.
The same study notes that Sands China stands out as the largest taxpayer among the gaming operators, having contributed approximately MOP 218.3 billion ($27.3 billion) over the past decade. This substantial financial support underscores their critical role in bolstering Macau’s government finances during economic challenges.
Following Sands China, Galaxy Entertainment Group contributed MOP 195.4 billion ($24.4 billion), and SJM contributed MOP 190.9 billion ($23.9 billion). Melco Resorts & Entertainment follows with MOP 146 billion ($18.2 billion), Wynn Macau with MOP 125.9 billion ($15.7 billion), and MGM China with MOP 89.8 billion ($11.2 billion).

Employment
Another evaluation metric is job creation, specifically the contribution to local employment. The study finds that in 2019, the six operators collectively employed 80,808 local residents, representing 28.7 percent of Macau’s local workforce.
Among these local employees, SJM employed the highest proportion at 24.1 percent, ranking first; Sands employed 23.1 percent, ranking second; and Galaxy employed 18.8 percent, ranking third. Following them were Studio City, Wynn, and MGM Macau.
By 2021, despite the challenges posed by the pandemic, the number of local employees slightly decreased to 76,265, still accounting for 27.2 percent of Macau’s total employment.
These figures demonstrate the operators’ significant role in providing employment opportunities within the community.