Frequent Chinese gamblers reportedly denied Macau visas,
Sanford C Bernstein Ltd has said that some frequent gamblers are having Macau visas turned down by Chinese authorities.
Macau.- Sanford C. Bernstein Ltd reported in a memo today (Monday) that the latest checks indicate that “frequent gamblers to Macau have seen visa issuance denied by China immigration offices.”
The note comes amid China’s ongoing clampdown on cross-border gambling. Last week, China’s National Immigration Administration said that since 2021 it had “spotted and stopped” from leaving the country, over 90,000 people that were allegedly “engaged in gambling activities”.
Bernstein said in the note: “As China Immigration Administration just reiterated strict Covid-19 border policy and restrictions on non-essential travel, we expect near-term visitation (to Macau) and (casino) revenue may remain constrained.”
At present, Macau’s borders are closed to all non-residents from outside the Greater China region.
Bernstine added that Macau’s month-to-date GGR (May 1 to 15) is MOP2.1bn (US$252m), with a month-to-date average daily rate of MOP140m (US$16.8m), down 83 per cent compared to May 2019 and down 58 per cent versus the May 2021 average daily rate. Bernstein predicts May GGR will be 85 per cent below its 2019 levels.
Macau GGR up 108% between May 1 and 9
Sanford C. Bernstein Ltd reported last week that gross gaming revenue in Macau was up 108 per cent week-on-week for the week ended May 9. The figure was also up 124 per cent when compared to April.
According to the brokerage, the city recorded daily casino gross gaming revenue of MOP200m (US$24.7m). The growth was mainly due to China’s Labour Day break which saw 136,647 people visit Macau.
However, the figure represents a drop of 18.2 per cent compared to 2021, when 165,500 tourists visited Macau during the break, and it’s a long way from pre-pandemic numbers. In 2019, 636,600 people visited Macau during the break.
