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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



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Live Dealer Now At Slotocash - Live Dealer can be found in the left navigation menu under 'Live Dealer' when you, the player is logged in to instant play.

Advantages of online slots over slot machines - The rise of online casinos means that players no longer have to leave their own house to play casino games.

Betradar Launches US Sports Betting Solutions - With only a few weeks to go until the betting and gambling world descends on ICE in London, Betradar have today announced that they will be launching a comprehensive range of tools and services to any company that will be looking to provide sports betting in a post-PASPA United States.

Abdelaouhab Zizi Wins MPNPT Morocco Main Event - Abdelaouhab Zizi has defeated fellow Casablanca resident Fadhil Farag heads up to win the 2018 MPN Poker Tour Morocco Main Event and MAD 375,000 (c. €33,220) after a two-way deal.

Final 12 For MPNPT Morocco - Sunday on the MPN Poker Tour Morocco will see several trophies awarded at the Mazagan Beach Resort, with the largest going to the Main Event champion along with a prize of MAD 400,000 (c.€35,400).

MPNPT Morocco Updates - Leading the 104 combined survivors from both flights is still Said El-Yousfi with 272,000 chips; visit the MPN Poker Tour blog for an end-of-day recap and full chip counts.

MPN Poker Tour Morocco Day 1A - The MPN Poker Tour has returned to Morocco this week (January 11-14), featuring the MAD 1.5 million guaranteed Main Event, accompanying side events, and the activities and parties for which this tour has now become known on two continents.

2018 MPN Poker Classic - The MPN announces the return of The Classic tournament series this January. The series is back following its successful €350,000 guaranteed debut in 2017. This time €500,000 is guaranteed, along with a once in a lifetime trip to Monaco for the Classic Champion.

PDC and Sportradar Renew Deal - Following this month’s hugely successful World Championship, the Professional Darts Corporation (PDC) and long-standing partners Sportradar have renewed their multi-faceted cooperation that will see the leader in sports data and content continuing in their role as official data

Poker Yaar Joins MPN - Available through download, instant play and mobile, Pokeryaar.com is live with Omaha, Hold’em and Five-Card poker variants, alongside MPN’s Fish Party, the industry’s only progressive jackpot SNGs.

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