MSAR has MOP 10 trillion circulation in casinos, expert says

2013-3-15

From;Macau Daily Times

Macau has some MOP 10 trillion of gaming capital circulating in its casinos altogether, according to a mainland gaming industry analyst.
Su Guoging, founder of the Asian Responsible Gaming Alliance, was quoted by the Ou Mun (Macao Daily News) yesterday, saying that he made the estimation based on Macau’s gaming revenue that reached MOP 304 billion last year, around MOP 6 trillion of this in the VIP rooms. The expert said the huge amount of money creates many potential problems for the city, including money-laundering, pathological gambling, and other negative effects. He urged the government to diversify the economy to turn the tide on over-reliance on the gaming industry.
Su said the government should also pay attention to the influx of gaming capital from dubious sources. He reminded the authority to strictly enforce gaming regulations and watch the industry more closely. Su also said the current casino licensing system fails to create a suitable environment to encourage more competition in the industry.
But the paper also quoted a casino source saying the gaming money circulation should be calculated by multiplying the gross gaming revenue by six to eight times, which amounts to MOP 2.4 trillion at most, and therefore below Su’s estimation.

Copyright@Macau Daily Times