Macao casinos rake in revenue as authorities target money changers

Unlicensed services for gamblers seen as path to skirt Beijing's capital controls

Macao in June: Some mainland Chinese are believed to use casinos in Macao as a way to circumvent strict capital controls by Beijing. (Photo by Ken Kobayashi)

KENJI KAWASE, KENSAKU IHARA and PEGGY YE, Nikkei staff writers

September 1, 2024 09:10 JST

Updated on September 1, 2024 17:14 JST

HONG KONG/MACAO -- Revenues in Macao's casino business are climbing back toward pre-pandemic levels, but clouds of uncertainty are gathering as authorities clamp down on unlicensed money changing operations that play a key role in the industry.

The latest interim results of six Hong Kong-listed casino operators demonstrate the sector's renaissance.