Ho Iat Seng, Macau’s chief executive, said it will take “more time” for mainland Chinese authorities to resume tours to Macau.<\/p>\n\n\n\n\n\n\n\n
Macau.- Inbound package tours from mainland China will have to wait for now due to a\u00a0new outbreak of Covid-19 cases in Hong Kong<\/a>\u00a0and in the neighbouring province of Guangdong. Ho Iat Seng<\/strong>\u00a0said that due to the current pandemic situation, he did not think mainland Chinese authorities would allow mass tourism to Macau anytime soon.<\/p>\n\n\n\n Ho said the\u00a0Macau government is not considering relaxing its “zero epidemic” strategy<\/strong>. He explained that this approach is important to ensure the current largely quarantine-free travel arrangements with mainland China, the city’s main source of tourists.<\/p>\n\n\n\n Tourists from mainland China accounted for 93 per cent of arrivals in Macau during the\u00a0recent Chinese New Year holidays<\/a>.\u00a0<\/p>\n\n\n\n Forbes has released its annual rich list and several Macau casino investors have seen their wealth decline<\/strong> due to factors such as Covid-19 related travel restrictions. Analysts attributed the plunge to the drop in the investors\u2019 net worth to Macau casino companies\u2019 share prices.<\/p>\n\n\n\n Lawrence Ho<\/strong>, chief executive of Melco Resorts & Entertainment<\/a>, saw the biggest drop, with his fortune falling 37 per cent year-on-year from US$1.99bn to US$1.25bn. He was followed by Lui Che Woo, chairman of Galaxy Entertainment<\/a>, whose fortune plummeted 28 per cent to US$12.8bn.<\/p>\n","protected":false},"excerpt":{"rendered":" Ho Iat Seng, Macau’s chief executive, said it will take “more time” for mainland Chinese authorities to resume tours to Macau.<\/p>\n","protected":false},"author":176,"featured_media":26697,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"is_press_release":false,"is_interview":false,"is_opinion":false,"focusai_summary":"Macau's Chief Executive, Ho Iat Seng, confirmed that mainland Chinese tour resumptions will be further delayed due to new COVID-19 outbreaks in Hong Kong and Guangdong, reinforcing the city's \"zero epidemic\" strategy. This ongoing restriction on Macau's primary tourist demographic has led to significant wealth declines for major casino investors, including Lawrence Ho of Melco Resorts & Entertainment and Lui Che Woo of Galaxy Entertainment, directly impacting their companies' share valuations.","focusai_entities":"Ho Iat Seng, Melco Resorts & Entertainment, Lawrence Ho, Galaxy Entertainment, Lui Che Woo, Forbes","focusai_location":"Macau, China, Hong Kong, Guangdong","focusai_target_profile":"ceo_executive (0.95), regulator (0.75), operator_casino (0.98), marketing_crm (0.7), investor_analyst (0.99), supplier_vendor (0.75), journalist_researcher (0.95)","focusai_suggestions":[{"label":"Macau GGR Outlook?","query":"What is the projected GGR impact for Macau concessionaires if mainland Chinese tour restrictions persist through Q3\/Q4 2022?"},{"label":"Operator Diversification Strategies?","query":"How are Macau-centric operators adjusting their business models or diversifying revenue streams to mitigate prolonged reliance on mainland tourism?"}],"footnotes":""},"categories":[16338,23876],"tags":[],"class_list":["post-27611","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-east-asia-news","category-social-news"],"_links":{"self":[{"href":"https:\/\/focusgn.com\/asia-pacific\/wp-json\/wp\/v2\/posts\/27611","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/focusgn.com\/asia-pacific\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/focusgn.com\/asia-pacific\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/focusgn.com\/asia-pacific\/wp-json\/wp\/v2\/users\/176"}],"replies":[{"embeddable":true,"href":"https:\/\/focusgn.com\/asia-pacific\/wp-json\/wp\/v2\/comments?post=27611"}],"version-history":[{"count":5,"href":"https:\/\/focusgn.com\/asia-pacific\/wp-json\/wp\/v2\/posts\/27611\/revisions"}],"predecessor-version":[{"id":27622,"href":"https:\/\/focusgn.com\/asia-pacific\/wp-json\/wp\/v2\/posts\/27611\/revisions\/27622"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/focusgn.com\/asia-pacific\/wp-json\/wp\/v2\/media\/26697"}],"wp:attachment":[{"href":"https:\/\/focusgn.com\/asia-pacific\/wp-json\/wp\/v2\/media?parent=27611"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/focusgn.com\/asia-pacific\/wp-json\/wp\/v2\/categories?post=27611"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/focusgn.com\/asia-pacific\/wp-json\/wp\/v2\/tags?post=27611"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}Macau casino investors\u2019 wealth plunges due to Covid-19 restrictions<\/h2>\n\n\n\n