more rapidly than Las Vegas<\/a>, the recovery time line in the Asian gaming hub is growing longer.<\/p>\nThe Golden Week holiday wrapped up today, with visits falling nearly 87 percent year-over-year, meaning the highly anticipated fourth-quarter resurgence in GGR figures will likely be pushed out to 2021.<\/p>\n
Additionally, Macau is still hamstrung by travel issues. It’s taking a week to 10 days for tourist visas to be approved on the mainland, while Hong Kong still has a 14-day quarantine protocol in effect for travelers arriving from the gaming center.<\/strong><\/p>\nAs for junkets, Goldman believes the situation will steady, and high-end gamblers are merely waiting out Beijing’s clampdown on money transfers.<\/p>\n
\u201cAs far as demand is concerned, while certain players may hold off their gambling trips near-term until the situation stabilizes, in view of the crackdown [in China] of illegal gambling activities and the introduction of a \u2018banned player list\u2019, we do not see any structural issue and\/or substitutes for brick-and-mortar gambling in the medium term,\u201d said the bank.<\/p>\n","protected":false},"excerpt":{"rendered":"
The current weakness in Macau’s junket industry is a more symptom of supply issues, not structural damage. Today’s cycle, though weak, isn’t as bad as the slump of 2014-15, according to Goldman Sachs analysts. Gambling is illegal everywhere else in China. Junkets entice VIPs to visit the gaming enclave, but over the past several months, […]<\/p>\n","protected":false},"author":46,"featured_media":151576,"comment_status":"open","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"_acf_changed":false,"footnotes":""},"categories":[69069,62],"tags":[],"acf":[],"yoast_head":"\n
Macau Junkets Pinched by new Rules, But Goldman Says It's not all Bad<\/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