The World's Largest Gambling Hub: Macau's Web3 and Local Life

Original Article Title: "The World's Largest Gambling City: Macau's Web3 and Local Life"

Original Article Author: AB Kuai.Dong

Perhaps you may be curious why a Japanese blogger is starting to write about Macau... The main reason is that I have become a son-in-law of Macau. Since last year, I have been commuting between Tokyo and Macau almost every month. Therefore, I wrote this article to organize my thoughts and share them with everyone.

Compared to other cities, Macau's foundation lies in gambling and the hotel industry, which has led to the development of tourism, retail, and luxury goods. Although there are plans to develop the MICE (Meetings, Incentives, Conferences, and Exhibitions) industry, it is also built on the foundation of the gaming industry, with overall revenue more than double the size of Las Vegas.

This article covers the following main topics:

· The local Web3 market

· Ownership conflicts

· Government's collaboration with Binance

· Government's stance on Crypto

· Daily life of local peers

· Background of gaming groups and their views on Web3

I hope the above content is helpful to you.

Macau's Web3 Market

Overall, Macau is a very small city. The advantage is that any news spreads quickly, and there are no barriers or obstacles between information, with the locals leading a comfortable life.

Features: Low stress, building while trading coins, small community culture

Currently, there are about 20-30 active players and Key Opinion Leaders (KOLs) in Macau. Influential figures in the local community include 0xBclub (@0xBclub), DREAMER (@xxxDreamer_mo), Fredhsu (@FredHsu88), all of whom are locals of Macau.

Among them, 0xBclub worked at the Macau MGM Group before entering the crypto circle, whose boss is Macau gambling tycoon Pansy Ho; DREAMER is a Macau University graduate and the founder of Macau Crypto Community 853.

Therefore, the active participation in Web3 in Macau is more in the form of small communities, which also aligns with the characteristics of Macau, developing a diverse and inclusive small community in a situation of limited population.

Ownership Conflicts

In many regions, the ones usually engaging in local offline events are the exchanges, such as in Hong Kong, Tokyo, and Singapore, where exchange platform officials or representatives often hold offline events.

However, Macau has encountered a significant issue, which is its affiliation.

For example, Bybit associates Macau's expansion and activities with those of Hong Kong, and the point of contact is based in Hong Kong. On the other hand, Bitget associates Macau with Taiwan's activities, and the point of contact is responsible for Taiwan.

The advantage, though, is that due to Macau's proximity to Hong Kong and the convenience of travel by ferry, community interactions are more frequent and intimate with the local Hong Kong community.

Official Collaboration with Binance

As early as 2020, Binance started engaging with Macau's official entities. For instance, at that time, Binance's Vice President also served as the Vice President of the Macau Blockchain Association and spoke at offline events.

Later in May 2024, the Macau Judiciary Police invited Binance officials to Macau to conduct training courses for the Criminal Investigation Department and the Gaming and Economic Crime Investigation Department officers. It was publicly announced that there would be close collaboration with the law enforcement authorities in the region.

Subsequently, Macau users on Binance would receive prompt messages from the Macau authorities when performing withdrawal operations, reducing the risk of user fraud. Therefore, Binance is the only crypto exchange platform that has publicly and repeatedly cooperated with Macau officials.

Official Stance on Cryptocurrency

Unlike Tokyo, Hong Kong, and Dubai, which have taken a proactive stance, the Macau government holds a somewhat ambivalent view on Crypto. The Monetary Authority of Macao (AMCM) has explicitly stated that Crypto is not a legal tender or financial tool but a highly speculative "virtual commodity." Its trading involves significant risks and is not regulated by financial authorities.

However, on the positive side, the Macau government has previously planned to amend the "Legal System for Currency Issuance and Issuance," suggesting the inclusion of digital currency in the legal tender category and granting it equal status with traditional paper money and coins, typically referring to compliant stablecoins, among others.

Therefore: for speculative and volatile tokens, the official stance is more cautious and advisory;

While: for compliant and stablecoins, the official stance is somewhat positive.

Local Colleague's Daily Life

Due to Macau's close ties with mainland China and lower visa entry requirements compared to Hong Kong, traveling to Macau is relatively easy, without concerns about obtaining a long-term visa. Furthermore, as Macau is not an immigrant city, the demand for labor and elite talent is much lower than in Japan and South Korea.

Macao is divided into the Macao Peninsula, Taipa, Cotai, and Coloane. Over 90% of the local residents live in the Peninsula area, while Taipa, Cotai, and Coloane to the south are more focused on reclaimed land and the casino district.

· Dining

The daily expenses in Hong Kong and Macao are roughly equivalent. However, due to the Macao government's annual cash handouts and various consumption vouchers, many restaurants actively participate by offering discounts, such as a 20% discount for locals with ID cards. Therefore, dining expenses are actually lower in Macao compared to Hong Kong.

· Hotels

Due to the large number of hotels associated with casinos and the use of dynamic pricing based on room occupancy, many internationally renowned hotel chains offer lower prices in Macao compared to other places.

· Accommodation

Since it is very convenient to travel from Macao to Hengqin and Zhuhai, the local rental housing market faces competition from mainland China. Therefore, in the same central locations, accommodation is much cheaper in Macao compared to prime areas in Hong Kong Island and Kowloon.

Six Major Casino Groups

Currently, there are a total of 6 licensed casino operators in Macao, divided into three concessionaires and three sub-concessionaires:

· SJM Holdings
Representatives: Grand Lisboa, Lisboa
Features: Formerly the only casino operator in Macao, it currently operates the most casinos.

· Galaxy Entertainment Group
Representatives: Galaxy, StarWorld
Features: Owns the largest casino resort in Macao, focusing on a high-end luxury experience.

· Sands China (Parent Company: Las Vegas Sands)
Representatives: The Venetian, The Parisian, The Londoner, Sands Cotai Central
Features: Operates large-scale casino resorts, with The Venetian being the world's largest casino.

· Wynn Macau (Parent Company: Wynn Resorts)
Representatives: Wynn Macau, Wynn Palace
Features: Focuses on luxurious VIP services, known for its VIP rooms and high-end gambling.

· MGM China (Parent Company: MGM Resorts International)
Representatives: MGM Macau, MGM Cotai
Features: Unique artistic design, attracting a younger, upscale clientele.

· Melco Resorts & Entertainment
Casino Representatives: City of Dreams, Studio City, Altira
Features: Offers rich entertainment facilities, including the world's highest Figure-8 Ferris wheel and water show performances.

Many visitors to the area cannot do without the related industries or entertainment of the above six companies. In a way, they are similar to Japan's infrastructure conglomerates or Hong Kong's industrialist clubs, providing support for Macau's development.

However, the above six major gaming companies have not discussed or supported Crypto in public, so there is currently no local impact, and many locals are not very interested in Crypto.

These six companies, in their current main focus, are more focused on expanding cultural and entertainment aspects, such as hosting large-scale exhibitions, celebrity concerts, and influencer events. Therefore, trading platforms or project teams may consider cooperating with gaming companies locally to hold large-scale exhibitions.

This concludes the information about Web3 in Macau and local life. We hope this content has been helpful to you. Thank you.

This article is contributed content and does not represent the views of BlockBeats.