Macau’s revenue is improved despite the month’s weak start
This month, Macau is expected to bring in MOP 18.5 billion (US$2.3 billion) in gross gaming revenueDS Kim, Mufan Shi, and Selina Li from JP Morgan believe that the gaming...
Report warns of money laundering risk in Asia-Pacific casinos
A collaborative report conducted by the Ministry of Home Affairs, the Monetary Authority of Singapore, and the Ministry of Finance highlighted the casino sector’s enormous vulnerability to money laundering in the region.
The study emphasizes the ways in which money is spent in casinos, which might be used by criminals to pass off the proceeds of environmental crimes as lawful. The casino industry is aware of possible concerns, especially with regard to suspicious transactions, according to this document, which goes by the title “Environmental Crimes Money Laundering National Risk Assessment.”
This conversation takes place in the framework of larger initiatives to stop financial crime and money laundering, especially as it relates to wildlife trafficking. Closing off possible channels of money laundering for criminals is the goal of the authorities. The research emphasizes how seriously fraud and illegal activity affect the nation’s economy, pointing out that environmental crimes bring in more than $110 billion a year.
In Singapore, the casino industry is growing, following the success of Macau. Both regions are doing well as they recover from the pandemic, with Macau especially seeing a lot of growth recently.
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Macau’s June gaming tax up 8.9% to $967M
In June, the Macau SAR government reported gaming tax revenues of MOP$7.78 billion (US$967 million), marking an 8.9% rise from May's MOP$7.15 billion (US$889 million) and a...
