Macau favours SJM and MGM China

The Macau government will ignore a clause in SJM and MGM China’s contracts that forces them to hand over casinos and equipment next March.

Macau.- SJM and MGM China would’ve had to hand over casinos and equipment to the government next March. Clause 43 in each of Macau’s concessionaire and sub-concessionaire contracts states such measure, dated at the same time of the expiry of each concession.

However, the Macau government would ignore such clause, favouring SJM and MGM China

The authorities planned to take over the assets and allow for the exploitation of venues to continue without any interruption.

VIP Volumes in Macau

Analysts from Nomura Research have indicated that the fourth quarter of the year could bring worse-than-expected financial figures. The analysts said that VIP volumes have slowed down in November.

Nomura said that according to several property managers, overall VIP volumes in November have slowed than more than usual after the Golden Week in October, AGBrief informed. “The Macau government has put restrictions on multiple re-entry visas,” said the analysts.

“While frequent customers accustomed to getting through immigration have been turned away recently. Deactivation of electronic issuance of visas has also had a negative impact on more frequent visitors,” they added.

Moreover, they said that the visit from the Chines President Xi Jinping in the second week of December will also be a challenge for local operators. As the Chinese New Year will take place in January, visitors are likely to visit the city in that month, instead of in December.