Macao 1Q casino STRs rose 89pct y-o-y

Macao 1Q casino STRs rose 89pct y-o-y

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Macau saw an 89.1% year-over-year increase in the number of questionable transaction reports (STRs) filed by the gaming sector in the first quarter of this year, leading to a significant overall increase in STRs in the reporting sector in the city.

That's right, according to Macau's Financial Intelligence Bureau. The gaming industry recorded 1,125 STRs in the first quarter, compared to 595 in the same period last year.

First-quarter suspicious transaction reports across all sectors were tallied at 1,460 in the first three months of the year, up 78.7% from a year earlier. The casino sector accounted for 77.1% of those reports in the first three months of the year.

The office did not comment on why the number of casino segment STRs increased year-over-year. The quarter-over-quarter increase was just 2.6% from 1,096 reported in the final three months of 2023.

The Macau casino sector recorded 3,431 STRs in 2023, the most in the 12 months since data was first published in 2006.

Annual casino STRs in 2023 are up about 80% compared to 2019. The Financial Intelligence Agency previously told GGRAsia that the "economic rebound" in the city in 2023 and the gaming industry's "ongoing" reporting efforts to detect questionable transactions are factors of this uptick.

According to the office, the typical triggers for Casino STR in 2023 were "switching chips without or to a minimum of gaming activity," "switching chips on behalf of third parties," and "currency/cash switching." These triggers were consistent from 2019 to 2023.

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