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New visa rules in Macau increase casino stocks

new visa rules in macau increase casino stocks

Macau is one of the biggest gambling hubs in the world and is conveniently located just an hour away by ferry from Mainland China. Some of the biggest casino brands in the world have built billion dollar casinos here which have generated a huge portion of their revenue from Macau’s gambling industry.

In the last 12 months the casinos in this area have suffered serious losses due to the anti-corruption crackdown which has been imposed on the casinos in Macau. A smoking ban has also been implemented last year and the number of visas granted to Mainland Chinese tourists has also been cut down on. The stocks of casinos have fallen considerably as they reported a lack of VIP gamblers which are responsible for generating more than 50% of the total revenue in Macau casinos.

The government in Macau has recently changed their visa policy and relaxed the norms that will now allow Mainland Chinese tourists to stay for 7 days in Macau. The previous policy only allowed tourists to stay for maximum of 5 days and they could only enter Macau twice every 60 days. The new policy will allow tourists to visit Macau twice every 30 days.

This decision comes in an effort to encourage Mainland Chinese tourists to once again start visiting Macau casinos. This might also suggest that current demand has forced the government to change their rules and regulations surrounding travel to Macau. All of this points to sunny times for gamblers who enjoy visiting Macau on a regular basis.

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