Wynn Claims Travel Restrictions Eased To Gambling Hot Spot Macau

Last year, the Chinese government tightened visa restrictions for residents on the mainland. The government claimed that too much money was leaving the mainland and going to Macau and their gaming industry.

The past few months, gambling revenue has been back up in Macau, and Steve Wynn, owner of Wynn Resorts and casinos in Macau, confirmed on Wednesday what many already thought to be true. The Chinese government has once again eased those travel restrictions.

Wynn was speaking to the media in Hong Kong when he said that restrictions had been eased from China's Guandong province to Macau. That is the area where most of the gamblers in Macau travel from.

Wynn now believes that travelers can come to macau once a month. That is a big difference from the previous restrictions which allowed travel to Macau only once every three months. Wynn is hoping the increase in business helps with his new Hong Kong listing for Wynn Resorts.

Wynn is hoping to raise over $1.5 billion through the listing. With Macau revenue back up close to where it was when Macau became the gambling capital of the world, that figure may be within reach. The company will begin trading on the Hong Kong Stock Market on October 8th.

September 24, 2009
Posted By Tom Jones
Staff Editor, CasinoGamblingWeb.com
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