Macau witnesses increase in gambling-related crime despite positive developments

November saw a significant upturn in Macau’s gambling industry, with gross gaming revenue (GGR) rising by 435% on an annual basis to a total of almost $2 billion.

This positive outcome indicates that the COVID-19 pandemic’s detrimental impacts are being mitigated in the region. But compared to October 2023, when the industry had a surge fueled by the National Day Golden Week holiday, November’s GGR figures were somewhat lower.

The cumulative gross gaming revenue (GGR) of Macau’s casino operators is around $20 billion, indicating an astounding 325% annual growth. The industry is expected to reach its $27 billion target by 2024 if the current trend continues. Given Macau’s economy’s heavy reliance on casino revenue, the steady recovery is seen as encouraging.

There has been a rise in gambling-related crime in Macau despite positive reforms in the gaming sector. The Secretary for Security of Macau, Wong Sio Chak, said that 716 gaming-related crimes were reported to the local authorities in 2023. Notably, there has been a notable rise in gambling-related fraud and theft events; fraud charges have climbed by 139% annually, while casino thefts have increased by 486%.

Secretary Wong Sio Chak brought up money exchange fraud in particular, which is often linked to activities in the area’s casinos. The Judiciary Police has argued that illegal money exchange transactions should be made illegal in order to combat this, emphasizing the need for more stringent anti-criminal measures.

The uptick in gambling-related crime during Macau’s gaming sector comeback underscores the challenges authorities have in maintaining a secure and regulated atmosphere. The focus on potential legal actions to discourage illicit conduct is reminiscent of broader efforts to strike a balance between economic growth and maintaining the security and integrity of Macau’s casino sector.

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Original story by: Gambling News