Macau Casinos Thrive As Chinese Government Eases Visa Restrictions

Last year, the Chinese government felt that too much money was leaving the mainland and heading to Macau casinos. In order to keep the money on the mainland, the government imposed visa restrictions, keeping people from visiting Macau regularly.

Earlier this summer, however, the government began easing those restrictions without much fanfare. Word has spread now, however, because of skyrocketing revenue at Macau casinos over the past month.

Revenue is expected to shoot even higher for September and October and it is believed that as of September 1st, the visa restrictions have been lightened even more. Macau has now reclaimed its throne as the top gambling destination in the world.

"With visa restrictions being lifted, Macau will once again go back to having the incredibly high revenue figures they experienced before the restrictions were in place," said CGW International Gaming analyst Marc Ruben, "That is the main reason Wynn Resorts has applied for a listing on the Hong Kong Stock Market."

Wynn must have seen the increase in business for their Macau operations coming last month when they applied for the Hong Kong listing. The company is expecting to raise $1.6 billion with the listing.

Other companies have also increased their awareness of what is happening in Macau. Las Vegas Sands and MGM Mirage are both in the process of expanding their casino gaming offerings in Macau. The end of the casino monopoly held by Stanley Ho's SJM Holdings has led way to great casino expansion in Macau.

September 22, 2009
Posted By Tom Jones
Staff Editor, CasinoGamblingWeb.com
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