Essential information and facts Macau
Capital N/A
Total Area
28sq.km Population 704,150
Median Age 40.8 years Religion Folk religion (59%), Buddhist, Christian
Ethnic Groups Chinese (88%), Portuguese, other Languages Cantonese (80%), Mandarin, other
Currency Patacas (MOP)
Government type Executive-led limited democracy Chief of State President of China XI Jinping (since 2013)
Head of Government Chief Executive Ho lat Seng (since 2019)
Elections President elected by National People’s Congress for five-year term. Last election was in March 2023 and next due in 2028. Chief Executive chosen by Election Committee for five-year term. Next due in 2024.
Unemployment 2.5% (March 2022) Tourism 39.4m (2019)
Macau properties including US$2.2bn on a makeover of its Londoner Macao resort creating a replica of the Big Ben and Houses of Parliament.
Te law also introduced a policy goal to ensure the gambling industry would be under tighter scrutiny and concession contracts can be terminated on grounds of a threat to national security.
Included under this umbrella of national security is the prevention of illegal cross-border flow of capital and anti money laundering which is estimated to be around US$150bn per year.
Tis links up with an amendment of China’s Penal Code which now criminalises the promotion of overseas gambling in China – as such VIP rooms will see a change in their business model and there is a phase-out of satellite casinos.
Of the 30 casinos in Macau, 11 are satellite casinos that continue to work under the new 10- year gaming concessions from 2023. In mid-June 2022 there were 18 satellite casinos in the market. Nine of the 11 operate under SJM’s licence, one is via Galaxy (Casino Waldo) and one via Melco (Grand Dragon in Taipa).
Under the law, satellite venues have “three years to transition to a management company where
P56 WIRE / PULSE / INSIGHT / REPORTS
Of the 30 casinos in Macau, 11 are satellite casinos that continue to work under the new 10-year gaming concessions from 2023. In mid-June 2022 there were 18 satellite casinos in the market. Nine of the 11 operate under SJM’s licence, one is via Galaxy (Casino Waldo) and one via Melco (Grand Dragon in Taipa).
such an entity will not be allowed to share in the gaming revenue, but only receive a management fee from a concessionaire.”
Meanwhile, operators terminated their VIP junket agreements in late 2021 after increased regulatory oversight by authorities towards promoters and the arrest of two junket bosses.
Influential junket king Alvin Chau, who headed Suncity Group Holdings, was jailed for 18 years this year for illicit gambling, fraud, and criminal association.
Te focus of the investigation was on ‘under the table’ betting. Apparently, since 2013 Chau’s group made HK$21.5bn in illegal profit resulting in HK$8.26bn in lost tax revenue for Macau.
Another junket operator Chan Weng Lin, former chairman of Tak Chun Group, has also been
jailed for 14 years for charges involving organised crime, illicit gaming activities, fraud, and money laundering.
Te new law also now limits promoters and management companies to provide services to only one concessionaire whereas previously junkets could work with more than one operator.
In addition, the commission rate for VIP junkets is capped at 1.25 per cent of rolling chip turnover, with junket operators required to pay a five per cent tax on their commissions monthly. Previously the commission tax was waived.
Te junket market which was once responsible for around 70 per cent of Macau’s gaming revenues all but died during the last three years during the pandemic.
In 2020 there were 95 licensed junkets. By early
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