In light of the economic significance of the gaming industry in the mini-economy of Macao, we conduct an evaluation of the industry ten years after the establishment of the Special Administrative Region. This study begins with a comprehensive overview of the development process of the gaming industry, wherein the economic and social impacts of the industry on the Macao economy are examined. The attractiveness of Macao’s gaming industry is then analyzed with the application of Porter’s Five Forces Model. Through the analysis of the relevant microeconomic environment, implications on the attractiveness and future development prospect of the gaming industry are drawn out which may serve as references for the policymakers in maintaining and improving the attractiveness of the gaming industry, thereby achieving sustainable economic development and growth for the overall economy.