The Macau government has announced that it will maintain the current cap on the number of VIP room gaming intermediaries at 50 until 2026. According to the latest data from the Gaming Inspection and Coordination Bureau, there are currently only 22 intermediary agencies operating in Macau, which has not yet reached the cap, but the industry as a whole is in a state of contraction.
Since the heyday of the gaming intermediary industry in 2014, the number has sharply decreased by more than 90%. At that time, there were as many as 235 active intermediaries, accounting for about 60% of casino revenue. Today, only about 18 are still in operation. Former giants such as Suncity, Tak Chun, and Hengsheng have been destroyed one after another due to illegal gambling, fraud, and involvement in organized crime, severely damaging the industry's vitality.
Under the new regulatory framework, intermediaries are not allowed to share profits with casinos, but can only charge a fixed commission of 1.25% on chip conversions, and each intermediary can only cooperate with one licensed casino. The government also explicitly prohibits the use of dedicated VIP rooms in casinos and restricts casino credit to be issued directly by licensed casino operators.
This series of policies reflects Beijing's determination to crack down on illegal capital outflows and to rectify Macau's gambling ecosystem, as Macau gradually moves away from its reliance on a gambling economy dominated by gaming intermediaries.
