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Macau gambling: Chinese government eases visa restrictions

9/21/09 - One of the chief non-recession reasons for Macau's slowdown as a major Asian gambling centre has been the Chinese government's curbs on visas, seriously restricting the number of gamblers who could visit the gambling island off Hong Kong.  The good news this week is that the restrictions have been "quietly eased", boosting operator and investor confidence.

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The Reuters news agency reports that Chinese citizens traveling from the populous Guangdong province to Macau are having an easier time obtaining visas, sending casino stocks soaring Monday this week as industry executives bet on record October earnings as a result.
 
The Reuters report claims that the authorities were concerned that citizens were doing too much gambling, and consequently imposed new rules lst year limiting them to two trips a year to Macau.
 
Government officials apparently began easing up on the rule as early as two months ago, and noticeably loosened the restriction at the start of this (September) month.
 
"The latest version is (they can travel to Macau) once a month out of Guangdong," an anonymous casino executive told the news agency. "Gaming revenues for the first two weeks of the month have been good."
 
October holds the promise of further improvement; it is a high travel season for Chinese because of the October 1 Golden Week holiday, and could see record monthly casino revenues following the more relaxed travel restrictions.
 
Macau has rocketed on to the global gambling stage in recent years following reforms earlier this decade that saw an end to a previous monopoly and awarding of licenses to multiple players, boosting competition.
 
The market grew 57 percent in 2007 alone, fueled by a huge influx of mainland Chinese, who now make up about 65 percent of casino visitors.
 
Macau generated HK$105.6 billion ($13.5 billion) in gross gaming revenues in 2008, more than double the HK$46.7 billion generated by the Las Vegas Strip during the same period.
 
More recently a combination of travel restrictions and the global economic recession has seen Macau revenues slump 12.5 percent in the first half of 2009



Gambling News :

Tim Chung Wins MPNPT Manchester - The 288-runner £550 MPNPT Manchester Main Event today crowned its champion, awarding the bulk of the £150,000 total prizepool to the nine players surviving after two days of tournament poker at the Grosvenor Casino.

MPNPT Manchester Day 2 - Day 2 of the £550 MPNPT Manchester Main Event saw 60 Day 1 survivors (from a total of 288 entries) and three intrepid last-minute registrants sit down to play to the final table.

Day 1B MPN Poker Tour Manchester - Day 1B of the £550 MPNPT Manchester Main Event saw the field rise to 285, as players took full advantage of the whole-day re-entry period.

Day 1A MPNPT Manchester - The £150,000 guaranteed MPNPT Manchester kicked off today in style – 74 poker players from all over Europe arriving at the Grosvenor Casino to contend the first of two starting days

Kung Fu Rooster Slot Goes Live - Celebrate Chinese New Year - 2017 Year of the Rooster. It's time to sweep away any ill-fortune and make way for incoming good luck, with this exciting 12 lines slot game.

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3 New Betsoft Slots - 3 new Betsoft slot Games were also added this week to most online casinos allowing US players.

2017 Bodog Super Millions Poker Open - The first events on the 105-tournament schedule have already been completed; there are three more tourneys on Thursday’s schedule, with a total of $34,000 in guaranteed prize money waiting to be won.

Pokerstars Pulls Out Of Coloumbia - Pokerstars Has taken the decision to cease offering real money services to players located in, playing from or resident within Colombia, effective from the 17th of July 2017.

The Railbird Launched By Americas Card Room #acra - Watching your friends conquer the tables just got a whole lot easier. Americas Card Room recently launched its industry-first Player Observer Tool dubbed “The Railbird”, a new feature that allows players seated at Americas Card Room tables to instantly share a live stream of their action with friends.

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