Macau records 14.9% rise in November gambling revenues
Macau, an autonomous region on the south coast of China where casino gaming is lawful, reported its gambling revenues for November, highlighting a rise of 14.9%, which equals...
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.
Macau expects to generate $29.7B GGR in 2025
Macau, an autonomous region on the south coast of China where casino gaming is lawful, forecasts to generate a GGR of MOP240 billion ($29.7 billion) in 2025.The Macau...
