Macau’s gaming industry saw a notable decline in the number of suspicious transaction reports (STRs) filed during the first nine months of 2025, according to the latest data from the city’s Financial Intelligence Office. The report revealed that gaming operators submitted 2,751 STRs between January and September — a 9.5% decrease from the 3,041 reports recorded over the same period in 2024.

Across all sectors, the Financial Intelligence Office received a total of 3,752 STRs in the first three quarters of the year, reflecting an 8.9% year-on-year decline. Of these, reports from the gaming industry accounted for the majority at 73.3%, underscoring the sector’s dominant role in the city’s financial reporting landscape.

The remaining reports came from financial institutions and insurance companies, which filed 789 STRs — representing 21% of the total — compared with 843 in the same period last year. “Other institutions,” a smaller category, submitted 212 reports, slightly lower than the 234 registered in 2024.

The Financial Intelligence Office attributed the overall decrease primarily to fewer filings from gaming operators, noting that this trend played a decisive role in the citywide decline in STR numbers.

Quarterly Performance Shows Mixed Results

While the cumulative total fell year-on-year, the gaming sector showed varying results across individual quarters. In the third quarter of 2025, operators reported 895 STRs. This figure marked a modest 4.1% increase compared with the same quarter in 2024, when 860 reports were filed. However, it also represented a decline from the 965 STRs recorded in the second quarter of 2025.

By contrast, the first quarter of the year saw 891 STRs from the gaming sector, reflecting a relatively stable reporting pattern during the early months of 2025.

The Financial Intelligence Office, which operates under Macau’s Unitary Police Service, noted that for the full year 2024, the gaming sector filed 3,837 STRs — the highest number since recordkeeping began in 2006.

Economic Slowdown Cited as Key Factor

The Financial Intelligence Office explained that the decline in the number of STRs up to mid-2025 was “mainly due to the economic slowdown.” The agency clarified that these reports covered a range of activities within the gaming industry, “such as chips conversion without or with minimal gaming activities, chips conversion on behalf of third parties, etc.”

This statement highlighted that fluctuations in Macau’s broader economic climate continue to influence financial reporting trends, particularly in its heavily monitored casino sector.

Gaming Sector Remains Under Close Scrutiny

Although STR volumes have dipped, the gaming industry continues to account for the majority of suspicious activity reports in Macau, reflecting the sector’s ongoing scrutiny under anti-money laundering (AML) regulations. The Financial Intelligence Office’s data underscores that, despite a softer economy, compliance efforts remain robust, and the gaming sector continues to generate the bulk of financial intelligence reports.

The 2025 figures suggest that while casino activity has slowed, the industry remains a focal point for monitoring financial irregularities. With nearly three-quarters of all STRs originating from gaming operators, Macau’s casinos continue to play a critical role in the city’s efforts to safeguard its financial system from illicit transactions.