Published: 12:36, June 21, 2021 | Updated: 18:00, June 21, 2021
Macao beefs up rules to clamp down on illicit capital flows
By Reuters

This general interior view shows gaming machines in the casino of the MGM Cotai resort in Macao, Feb 13, 2018. (ANTHONY WALLACE / AFP)

HONG KONG - The world's biggest casino hub of Macao will shake up its casino regulator by more than doubling the number of gaming inspectors and restructuring several departments in its latest move to ramp up supervision.

READ MORE: Macao casinos face biggest threat to growth in five years

The executive council that advises Macao's chief executive announced proposals to boost the number of inspectors to 459 from 192 now, as well as creating a new director-level post at the regulator

The executive council that advises Macao's chief executive announced proposals to boost the number of inspectors to 459 from 192 now, as well as creating a new director-level post at the regulator.

The regulations will take effect once published in the city's official gazette, the council said on Friday in a statement on the government's website, with local media saying it was likely to be within a few weeks.

The change comes just months before the expiry of multi-billion-dollar casino licenses that will require operators Sands China, Wynn Macau, MGM China, SJM Holdings, Melco Resorts and Galaxy Entertainment to rebid for new gaming concessions.

Macao has tightened scrutiny of casinos in recent years, with authorities clamping down on illicit capital flows from and targeting underground lending and illegal cash transfers.

ALSO READ: Macao gambling revenues drop 65.8% in Dec, 79.3% in 2020

Macao has struggled with a dearth of travelers because of coronavirus curbs since the start of 2020. While gambling revenues have picked up in recent months, they are less than half the 2019 figure.