Visa limitations\/restrictions on IVS and transit visas are impacting higher-frequency, higher-end players in both VIP and mass along with junket agents, which has led to significant declines in high-end visitation and GGR,\u201d according to Bernstein.<\/p><\/blockquote>\n
Last month, the research firm lowered earnings and revenue estimates for the six Macau concessionaires, citing lethargy in the high-end segment.<\/p>\n
Due to the limitations on visits to the peninsula, Bernstein is now forecasting a December GGR decline of 12 percent to 16 percent, far worse than its original estimate calling for a decline of eight percent to 11 percent.<\/strong><\/p>\nReasons For The Restrictions<\/h2>\n
China is clamping down on Macau tourism this month for a simple reason: an array of high-ranking dignitaries are expected to attend the handover ceremonies later this month. Speculation is running high that Chinese President Xi Jinping will be among those attending the festivities.<\/p>\n
For Macau gaming equities, the timing of Bernstein’s downward revisions is inauspicious because it comes just days after J.P. Morgan analyst Joseph Greff noted there’s value in names such as Melco Resorts (NASDAQ:MLCO) and Wynn Resorts Ltd. (NASDAQ:WYNN).<\/strong><\/p>\nAdditionally, as Casino.org<\/i> reported Monday<\/a>, Wynn released solid October earnings before interest, taxes, depreciation and amortization (EBITDA) and revenue guidance for its two Macau properties, Wynn Macau and Wynn Palace.<\/p>\nThe company said preliminary Macau results for November and to this point in December are not available.<\/p>\n","protected":false},"excerpt":{"rendered":"
Implementation of visa restrictions is limiting gamblers’ visits to Macau this month, and that’s crimping monthly gross gaming revenue (GGR), say some analysts. In a report out Monday, Bernstein’s team of gaming analysts note the tighter visitation policy, revealed as part of preparations for celebrations later this month commemorating the twentieth anniversary of the handover […]<\/p>\n","protected":false},"author":46,"featured_media":121890,"comment_status":"open","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"_acf_changed":false,"footnotes":""},"categories":[69069,62],"tags":[],"acf":[],"yoast_head":"\n
China's Restrictions on Macau Visas is Hurting Gaming Revenue<\/title>\n\n\n\n\n\n\n\n\n\n\n\n\n\t\n\t\n\t\n\n\n\n\n\n\t\n\t\n\t\n