The long-awaited Macau rebound has begun, according to Fantini’s Gaming Report.
Gaming revenue in the first six days of September rose by 93 per cent over August to HK$63m thanks to the reissuance of visas from neighbouring Guangdong Province, which provides about 30 per cent of casino business.
The improvement should accelerate as visa reissuance resumes in all of China on September 23. And given the seven to 10-day lag time from application to issuance of visas the positive impact will be just in time for Golden Week in early October.
Improvement is also evident in visitation, which has grown from 5,000 a day in early August to 16,000, Vitaly Umansky of Bernstein said. He expects the percentage of September revenues to be down in the mid-80s from last year.