China denies visas to citizens wishing to visit Macau casinos – report
Chinese authorities refuse to issue exit visas to citizens of the mainland who wish to visit Macau gambling establishments. This information is confirmed by a report from the reputable brokerage firm Sanford C. Bernstein Ltd.
The note also indicates that Macau’s gross gaming revenue (GGR) from casinos averaged 50 million patacas ($6.2 million) per day between May 10 and May 15. The figure was the worst since October 2020, when travel under the individual visit scheme resumed for mainlanders in the Middle Kingdom.
The brokerage added that the figures, estimated compared to the first nine days of May, including the public holiday period in China, were down 75%.
Hong Kong-based institute analysts Vitali Umansky, Louis Li and Shirley Yang said in their report, “A channel check shows that Macau’s monthly GDP (May 1 to 15) is 2.1 billion patacas ($252 million). Meanwhile, the monthly average daily revenue marker is $16.8 million, 83% lower than the May 2019 average daily rate and 58% lower than the same May 2021 marker.”
The document was released amid a general restriction on cross-border gambling by Chinese authorities.
The day before, China’s National Immigration Administration said it had detected and prevented more than 90,000 people from leaving the country since 2021 for gambling activities.
In a May 16 policy brief, experts at Sanford C. Bernstein Ltd added, “As the Chinese administration has reaffirmed strict Covid-19 border policies and restrictions on nonessential travel, we expect that short-term visits to Macau and local casino revenue may remain limited.”
To date, mainland China is the only place that has a quarantine travel agreement with Macau.
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