Macau GGR dipped for the month of September in what was a minor but surprising setback for the region.
Whilst revenue of $2.16bn in September was an increase of 15.5% compared to the same period last year, it did represent a slowing of the momentum for the region’s gaming sector as it fell by 12.7% from August.
It comes amidst a period of transformation for the region, with a new CEO set to be appointed on 12 October.
Sam Hou Fai, who is running uncontested to become the Chief Executive of Macau, has somewhat shifted his stance on the importance of the gaming economy when it comes to Macau’s overall economy.
Having previously emphasised the need for diversification of the economy, he notably came out recently and underpinned the sector as Macau’s primary industry.
The incoming CEO stated at a press conference: “The gaming industry is Macau’s primary industry, and if it does not develop healthily, it will have far-reaching consequences. The new government will strictly enforce the new gaming law to protect and supervise the healthy and orderly development of the six concessionaires.
“The new government will require and supervise the concessionaires to monitor their non-gaming investments of MOP$130bn in accordance with the contractual requirements, so as to promote the diversified development of the Macau economy.”
The slowing of momentum will be something the Hou Fai will likely focus on tackling as he enters office, however much of the reasoning will be placed down to intensifying efforts to eradicate gang activity and fraudulent behaviour from the space.
The ministry recently described its approach as “high pressure” as the region’s authorities seek a collaborative approach when it comes to tackling gangs and money laundering.
In one of the more specific efforts to combat illegal activity in Macau, a total of 93 people were arrested following an investigation into an illegal gambling operation in Macau, Hong Kong and the Guangdong Province.
A report by government officials detailed that this operation took place across a host of major casino locations in Macau.
Furthermore, the operation has been in place since 2016, as law officials remained poised until the most effective moment to ensure they could counter and arrest those responsible for the illegal syndicate.
