Xi Jinping’s visit impact on Macau gaming
The Chinese president arrived at Macau to inaugurate the new government.
Macau.- Chinese President’s Xi Jinping visited Macau today for the 20th anniversary ceremonies of the transfer of administration from Portugal to China and to inaugurate the new government of the region. The visit could compound the losses in casino revenues in the end of the year, according to analysts.
For David Green, Xi Jinping’s trip to Macau could have a negative impact on Macau’s VIP segment: “I don’t think visa restrictions alone have a material impact on the game’s gross revenue. What can really have an impact, however, is the biggest concern about the growing vigilance and active policing, whether by preparation while the President is in Macao and even in the aftermath of the visit”, he explained.
“Some high value players may prefer to be left out during this period rather than being seen playing actively”, added, and said that “it’s not the number of visitors that determines what happens to the game’s gross revenue, but its value as players”.
Portuguese gambling lawyer Pedro Cortés supports the idea of David Green. “I completely agree. The same thing happened in 2014, when [Xi Jinping] came to Macau”, said Portuguese analyst. “All security measures in place push not only the mass market, but above all VIP players,” he added, and explained: “The VIP player is not very fond of being identified and, in these circumstances, not because he is committing any illegality, but because he values his privacy and is discreet in nature, it is natural to avoid traveling to Macau” .
