Macau to criminalise unlicenced money exchange in casinos

Jenny Ortiz August 12, 2024

The Macau government is set to introduce a new provision in its gaming laws to criminalise unlicenced money exchange activities within casino premises. This marks a shift in the city’s stance on gambling-related crimes. The proposed law targets individuals conducting unauthorised money exchanges in casinos, including non-gaming areas such as hotels and entertainment complexes, with penalties of up to five years in prison.

Enhanced penalties for money exchange gangs

According to a local report, the new provision called “Unlawful exchange of money for the purpose of betting,” will impose a minimum sentence of one month’s imprisonment, with a maximum of five years for serious offenders. The regulation also includes additional penalties, such as banning convicted individuals from entering any Macau casino for two to ten years.

This change in legislation follows increased efforts by both mainland and Macau police to curb the activities of money exchange syndicates, which have recently led to significant disturbances, including a high-profile murder case in a Macau hotel.

Industry reactions and broader implications

The introduction of these stricter regulations is already impacting gambling volumes in Macau, with industry observers noting a downturn in activity. Analysts suggest that the crackdown, combined with broader macroeconomic pressures from China, is contributing to a steady but less-than-spectacular performance in the city’s casino sector. Despite these challenges, major casino operators like MGM Resorts International and Galaxy Entertainment remain optimistic, while Wynn Resorts faces additional hurdles in maintaining its market share amid the regulatory tightening.

As Macau continues to refine its regulatory framework, the gaming industry is closely monitoring the implications for both local operations and potential expansions into new markets. The final vote on this legislative amendment is expected to take place by the end of the year, signalling a more robust approach to maintaining the integrity of Macau’s gaming environment.