MACAU CASINO REVENUES ON PACE TO MATCH RECORD scmp.com
Many commentators are claiming that Macau casino revenues have increased up to 60% year-over-year after the first 20 days of September and are on pace to repeat August’s record of MOP11.27 billion. The growth is said to be due to Beijing relaxing visa restrictions, increased spending per gambler, and an easy comp with last year.
The head of Macau’s Travel Industry Council said last month that Guangdong residents could visit Macau once a month from September 1, up from once every two months previously. In addition, effective yesterday, the official implementation of a VIP junket commission cap will further help operators’ earnings.
STEVE WYNN: GUANGDOND TRAVEL RESTRICTIONS TO MACAU HAVE EASED wsj.com
Steve Wynn, speaking at a news conference Wednesday, confirmed that Chinese authorities recently relaxed travel restrictions for Guangdong residents visiting Macau. Wynn said the Chinese government considered macroeconomic factors and made the decision in conjunction with the Macau government. Wynn Resorts is planning to raise up to US1.6 billion in a Hong Kong initial public offering of its Macau assets.