The Grand Emperor hotel in Macau has ripped up and sold the gold bricks lining its lobby floor, earning nearly $13m (£9.6m) amid a rise in the metal’s value due to turbulent geopolitical conditions.
The hotel, which opened in 2006, is known for its opulent decor including a “golden pathway” featuring dozens of gold bars in its entranceway.
But the resort’s Hong Kong-based parent company, Emperor Entertainment Hotel Ltd, announced in a Wednesday filing that while the gold bullion had created a “sumptuous and resplendent atmosphere” in the hotel, “in light of the prevailing market conditions” the firm recognised a “good opportunity” to remove and sell them.
The group said it had sold a “number of gold bricks weighing 79kg in total” for $12.8m to a Hong Kong-based refiner. It added that the sale would “strengthen the group’s financial position and enable it to invest should suitable investment opportunities arise”.
Macau was a Portuguese colony for 442 years until control was handed back to China in 1999. It is now one of China’s two special administrative regions, along with Hong Kong, that are granted a greater degree of autonomy from Beijing.
It remains the only place in China where casino gambling is legal, and the roughly 13-square-mile (33sq km) territory was the global leader in gambling revenue in 2025.
But under pressure from Beijing to diversify its economy, many of Macau’s casinos have pivoted away from gambling operations amid a tightening of local rules, including the Grand Emperor, which closed its casino in October.
In this week’s filing, the group said that with the cessation of gaming activities at the premises, it is “actively planning for other entertainment and amusement facilities”, with the hotel’s gold-studded lobby already due to be redeveloped.
“Given that the relevant area is planned to undergo renovation and redevelopment, the precious metal that were originally part of the hotel’s interior design and outfits are no longer relevant to the theme of the hotel in the future,” it said.
Unpredictable trade policies and fluctuating tariffs imposed by US President Donald Trump since his return to the White House in January 2025 has seen the price of gold surge over the past 12 months. Investors flock to precious metals during uncertain macroeconomic conditions because they hold their value better than fiat currency and stocks.
