A team of Bernstein gaming analyst has noted that the visa restrictions policy in Macau is preventing gamblers from visiting the enclave this month and thus bringing down the gaming revenue.
Analysts have stated that the visitation limit initiated in preparation for the commemoration of 20 years since Macau was handed to China by Portugal is dwindling revenue collection. Bernstein team of analysts estimated a gross gaming revenue average of $88.4 million per day which is equivalent to a 16 percent decrease in the same period in 2018 and a 6 percent decline when compared to November. It’s the worst month in 2019 in terms of gaming revenue.
The analysts also noted that the VIP hold was slightly lower when compared to last December. The visit of high-end gamblers in the region has been slowed for several months by visa controls, especially China mainland players who frequently visit the enclave.
Beijing implemented the visa control on November 22, earlier than it was expected. The celebration of the Macau handover from Portugal is set to begin later this month. This has prompted some analysts to downgrade the enclave revenue collection. According to Bernstein, visa restrictions are affecting the high-end players in both VIP and mass visits along with junkets agents.
In November, Bernstein lowered the revenue forecast of six Macau casinos, citing a decline in the VIP segment. According to Casino.org, the forecast was worse than it was first estimated. Initially, a drop of 8 to 11 percent was being predicted, but Bernstein analysts’ prediction rose from 12 to 16 percent. Macau gaming industry and tourism will be affected this month due to the expectation of high dignitaries attending the ceremony. Among those who may be in attendance is Chinese President Xi Jinping.
