Tim McNally checks in with Asia Gaming Brief Asia editor Felix Ng to discuss the moves that NagaCorp has been making to offset the decline in international visitation this year. McNally also comments on NagaCorp’s initial thoughts on the China Tourism...
The simplification of visa procedures for Chinese visitors is key to drive a more robust recovery in Macau, where this year’s Golden Week figures proved disappointing, according to a note from Bernstein Research.
A sign Beijing is once again ramping up its anti-corruption rhetoric, combined with an increased focus on capital outflows are likely to be further factors hindering recovery in Macau, analysts said.
The “worst” of the crisis may be over for Resorts World Genting, with a significant improvement in visitation since it reopened three months ago, RHB Research said in a note.
Hotel occupancy rates in the run up to and during the Golden Week holiday are seeing “meaningful” improvement, but average daily rates remain weak, Morgan Stanley says in a note.
Donaco International said it has seen “significant progress” in moves towards reopening borders in Southeast Asia and its two casinos will be ready to resume operations as soon as the situation warrants.
Casinos in Sihanoukville have been given a green light to reopen by the country’s health ministry as part of a phased reopening of the industry in the country and some are already back in business.
China has confirmed it will begin issuing individual visit scheme visas for the whole of Guangdong province on August 26 and will extend the program to all of China from Sept. 23.
Chinese domestic flights and hi-speed train links are back to their pre-virus levels of volume and there is still a strong demand for travel with 100 million trips in the first week of May and 80 million in the three-day Dragon Boat festival in June.
The latest border easings between China and Macau are a positive step but will have limited impact on gross gambling revenue, analysts said.
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