Macau Police Arrest Suspect for Alleged Chip-For-Cash Exchange

A man from mainland China has been arrested by Macau police after being caught allegedly conducting an unauthorized cash-for-casino-chips exchange near a hotel in the city’s NAPE district.

Macau Police Arrest Man Over Alleged Illegal Casino Chip Exchange

Authorities stated that the suspect, an unemployed man in his thirties from mainland China, admitted to carrying out the exchange. He told police that he had only recently started engaging in such activities and had earned approximately HK$1,000 (around $127) in profit to date.

Reports indicate that the incident involved the exchange of RMB2,850 (approximately US$392) for HK$3,000 worth of casino chips. On June 15, the Judiciary Police conducted a targeted operation aimed at cracking down on illegal currency exchange activities. Officers observed a man and a female gambler appearing to carry out a cash-for-chip transaction.

After the woman used HK$3,000 in chips to begin gambling, police intervened and detained both individuals for questioning. In addition, the Judiciary Police also seized a total of HK$35,500 (about $4,500) in chips and cash. Police suspect the man planned to use the remaining HK$33,000 ($4,200) in chips and cash found in his possession for similar unauthorized exchanges. He has been formally charged with carrying out illegal currency exchange activities for gambling purposes, and the case has been transferred to the Public Prosecutions Office for further investigation.

Cases where casino chips are involved to exchange currency are not too uncommon in the city. For example, recently Macau police arrested two in casino chip theft which allegedly involved more than HK$45,000 ($5,700) worth of chips stolen from another player. 

What’s the Current State of Gambling in Macau?

Macau, a special administrative region of China, is the only place in the country where casino gambling is legal. The activity was first legalized in the 1850s under Portuguese rule in the then-autonomous colony. Since Macau’s handover from Portugal to China, the gambling industry has expanded rapidly, particularly after 2001.

With the arrival of major international casino operators from Las Vegas and Australia, Macau surpassed the Las Vegas Strip in gambling revenue in 2007. Since then the Asian city has gained global recognition as the “gambling capital of the world,” consistently generating the highest gambling revenues and far outpacing other gambling hubs. Gambling tourism is the cornerstone of Macau’s economy, accounting for roughly 50% of its GDP. The majority of visitors come from mainland China and Hong Kong.