Macau Gambling: not all sin

Often condemned as a sin and excluded by some investors with ESG investing objectives, gambling stocks have a hard standing. However, Mirae Asset Global Investments took a look at specifically Macau gambling and says the associated social harm of gambling in nature may be outweighed by the positive economic and social benefits contributed to the economy and society.

“Regulatory and business developments in responsible gaming have significantly increased over the past few years,” writes Holly So, ESG Specialist at Mirae Asset.

So further points out that the gambling industry has contributed significantly to Macau’s economic development, in figures, the GDP contribution increased from 30% in 2001 to 66% in 2011. As such, “Macau is a key part of the ‘Greater Bay Area’ Development and President Xi’s goal of ‘Common Prosperity‘. To achieve this, diversification plans for Macau were put forward in 2015 that encourage casino operators to venture into different non-gaming business areas.”

Read the full insight at am.miraeasset.com.