Union Gaming Research Macau analysts crossed over the border into mainland China for a reality check on the much discussed crackdown on transit visas to Macau that’s hit casino share prices over the past week. Analysts Grant Govertsen and Felicity Chiang found that it’s business as usual for the transit visa cottage industry in neighboring Zhuhai.
Totally globalized native New Yorker and former broadcast news producer Muhammad Cohen is a blogger for Forbes and author of Hong Kong On Air
What a difference a year makes. At the 2009 Global Gaming Expo Asia at the Venetian Macao, crowds were thin and worry was thick. For the first time since casino competition began 2004, casino revenue growth had stalled due to visa restrictions that cut the flow of visitors and money from mainland China. A year later, Macau’s casinos are steaming ahead at a record pace, 67 percent of a year ago. Yet the possibility of visa restrictions remain Macau’s elephant in the room that could send the house of cards crashing down again.
As I reported in Asia Times, experts are divided on whether the Beijing will tighten the noose again. But sooner or later, Macau’s resorts will need to broaden their appeal to visitors to expand beyond the Chinese market. Record revenues can make that transition easier or more difficult.
Totally globalized native New Yorker and former broadcast news producer Muhammad Cohen is author of Hong Kong On Air
Muhammad Cohen 