The government of Macau has moved to a more lenient stance on currency exchange taking place in casinos.
Galaxy Entertainment Group, Melco Resorts & Entertainment and SJM Holdings will all be able to offer currency exchanges as a result of the reauthorisation of their licenses.
It marks a significant shift in stance from the government, with regulatory frameworks having previously been tight around the use of currency exchanges in the casinos.
The regulatory shift indicates that the efforts of the government are being undertaken in a bid to eradicate the rise of illicit currency exchanges that are increasing across Macau.
It forms part of a wider governmental effort to centralise control and ensure compliance around the casino sector, increasing the regulatory stability of the industry.
With VIP players continuing to count for a significant chunk of revenue for the major casinos in Macau, it is a move that could be a key boost for the operators.
Whilst many of these players come from Mainland China, Macau still remains the capital of gambling across Southeast Asia, elevated by tightening restrictions in other markets.
The move bolsters efficiency for VIP players, even from Mainland China, with many travelling in with foreign currency.
It comes at a time when the sector continues to recover, boosted by engagement and footfall gradually increasing.
2025 saw revenue rise 9 % year‑on‑year, with momentum indicating that this growth will only accelerate in 2026.
This momentum was only found in May last year after a challenging start to the year and was significantly bolstered by the appetite for VIP players.
During May, the jurisdiction reported a 19% year-on-year rise in GGR to $2.6bn which pivoted the fortunes of the sector. This surge was further backed by similar double-figure growth in the remaining months of 2025 – except for September. Macau closed the year with a 14.8% YoY rise in December, recording GGR of $2.6bn.
Market analysts Citigroup indicated that the financial development of the sector has been largely fuelled by a continued appetite for spending among wealthy players.
Cambodia revokes five casino licences, but overall revenue rises
Revenue has continued to increase from casinos in Cambodia, even as the country’s regulators have intensified.
According to the Khmer Times, the Commercial Gambling Management Commission of Cambodia (CGMC) has suspended one casino licence and revoked five more following compliance investigations.
The licences of Golden Fortune Resorts World, Jinbei Group, Cambodian Heng Xin Real Estate, GC Casino and Jinbei 4 Casino were all permanently revoked. Meanwhile, Wo Casino has had its licence temporarily suspended.
Reports from the region suggest that some of the casinos in question have links to Chen Zhi, a businessman who was extradited to China from Cambodia amid allegations of using casino compounds to run multi-billion dollar scam operations.
Since January 2025, the CGMC has stepped up action against non-compliant licence holders, as at least 13 casinos have had their licences terminated or suspended. Meanwhile, it has also paused the issuance of new licences.
Despite that, the CGMC has also revealed that the revenue it collected from the casino sector has grown 14% year-over-year to 290,736.49m Riels (£53.6m).
At the end of 2025, Cambodia had 195 licensed casinos, including 160 located in Preah Sihanouk province.
The surging financial performance of the casino sector has also been achieved in the backdrop of tensions between Thailand and Cambodia ratcheting up over the two countries’ ongoing border dispute.
In June, the Thai army issued an order preventing citizens from crossing the border to work in the casinos located in Poipet, and the Star Vegas Resort also experienced a 62% drop in headcount as a result of the fighting.
More recently, the industry became further embroiled in the hostilities as a Bangkok Post report in December revealed that the Thai military destroyed several casino buildings in Cambodia that the military claimed were being used to store weapons and drones.
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