SotA 2063 p63. Rather than attract corporations like Hong Kong, Macao relies on the large casinos legalised gambling allows to bring in revenue. Smuggling is another large industry with Chinese and Russian arms being sold to Guangxi and Vietnamese pirates and heroin and Indochinese magical compounds heading up to Vladivostok and on from there.
SotA 2063 p63. With Triad control of Hong Kong being so complete, the Yakuza and Seoulpa Rings have been forced to operate out of Macao although they've stil got the local Triads to deal with as well.
SotA 2063 p64. Macao gained its independence when China broke up in the late 'teens. It started becoming something of a mercenary hangout in the 2020s when the border clashes between the Canton Confederation and the Guangxi nation nearby and continued instability in South East Asia and the warlord states attracted them to the region.