Macau Slot Co Ltd has had its singular sports betting license renewed with a new period of five years, insuring the operator a continued monopoly on all sports betting in Macau, except horse racing, until at least June 5, 2021. The current license will expire Sunday.

The company runs two Macau facing websites. Macau-slot.com is the official betting site, and macauslot.com is their information site. Macau Jockey Club, a part of the Stanley Ho empire will still handle horse betting through the Macau Horse Racing Co Ltd concession. The Macau Jockey Club’s license was renewed last year. The club has not posted a profit since 2004.

Sports betting revenue in the SAR was down year on year looking at 2015 numbers, according to data obtained from local gaming regulator, the Gaming Inspection and Coordination Bureau (DICJ) by GGRAsia. The outlet is reporting that Macau Slot’s  gross revenues from their business sector fell to MOP673 million (US$84 million) in 2015. The company posted a profit increase of more than 18 percent in 2014, the last year publicly reported, with the 2014 FIFA World Cup largely responsible for the rise.

Although no Macau casinos currently offer sports betting lounges, the move away from a VIP junket revenue model to a more mass gaming oriented economy may change that in the future.

Macau Business Daily recently reported that opportunities for much greater revenue from sports betting would exist were the Chinese government to capture i-Gaming tax moneys by regulating the activity for its citizens outside the Macau SAR. Founder of BlueSea Consulting, Albert Climent, told the outlet that loosening restrictions on internet betting could bring long term profits.

“I think because the territory has a very defined business model based on integrated resorts, this hasn’t motivated the local government to look at online gaming regulation. However, I would advise the Macau Government to look at regulations for online gaming, since if China ever wants to regulate online gaming, it certainly should start in Macau,” Climent told the outlet.

Climent has investor experience in the burgeoning i-Gaming markets of India and Vietnam, and noted that there is an ever increasing number of governments worldwide who are regulating internet gaming in order to not lose potential revenues.

Macau sports betting monopoly gets concession extension was last modified: June 2nd, 2016 by Macaucasinos.com