Macau has a sole sports betting operator

Macau has a sole sports betting operator

Last year was a good one for Macau Slot Co., the only sports betting operator in Macau. The company reported a 31.8% year-on-year increase in profit as casinos tried to jumpstart their operations.

The Macau Slot had revenue of US$77.8 million last year. This was more than the MOP548 million in 2020.

Soccer was the most popular sport, while basketball was a distant second. Soccer and basketball brought in MOP415 million and US$26.5 million, respectively.

The revenue increase resulted in a profit of MOP 127 million. This was more than the previous year when Macau was a virtual ghost town because of COVID-19.

The profit was an improvement over the previous year. The profit was down by 30% from the previous year.

The past couple of years have been difficult because of the Pandemic. The government has been working hard to control the spread of COVID-19.

In the US, sportsbooks are common at casinos, but not in Macau. Sports betting is more of an ancillary product in the gambling hub than a robust alternative, as there are no sportsbooks on gaming floors.

Macau Slot had a monopoly on sports betting for a long time. The SAR approved its license in 1998 and it began accepting soccer wagers. In 2000, it added basketball. Macau gave the company exclusive control over its legal sports betting activity with the arrival of casino concessions in 2002.

Despite the change, Macau has not made any changes to the sports betting market. The industry continues to lag behind other industries.

The new gambling laws have done very little to advance sports betting. Sports betting is different from casino gambling in that it is offered to the public.

This discrepancy is one of the reasons why casinos don’t put up sportsbooks. Macau is shutting down its commercial activity due to a new outbreak of COVID-19.

The businesses were ordered to be partially locked down for a week until July 18. The order was extended through this Friday.

All residents are required to stay in their homes except to shop for groceries or for mandatory COVID-19 testing. Up to two years in jail is what those who violate the rules will face.

Summary:

Macau Slot, the only sports betting operator in Macau, reported a 31.8% year-on-year increase in profit to MOP127 million (US$15.7 million) in 2020. The company’s revenue rose 15.6% to MOP629 million (US$77.8 million) in 2020 from MOP544 million (US$67.3 million) in the previous year. Soccer accounted for MOP415 million (US$51.3 million) and basketball for MOP214 million (US$26.5 million).