New visa restrictions on Macau
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Guangdong
New visa restrictions on Macau
Chinese act to limit its residents gambling there, with possible longterm implication for Singapore's casinos.
if the cash outflows are not reined the central govt will surely intervene:
Macau daily blog
May 27, 2007
New Visa restrictions to Macau for Guangdong residents
The big news this week has been what the affect of the new visa restrictions may have on Macau Â’s future.
We believe the affect will be huge as every day about 250,000 people cross the Zhuhai-Macau borders.
The new restrictions under ChinaÂ’s current policy are not surprising as the cash outflows must be quite significant. Obviously these measures are also implemented to curb gambling by officials and illegal labour in Macau.
Just let have a look at a some of the new restrictions here: -
1 There will be a restriction on the number of times that visitors are allowed to visit Macau.
2 The application period is now 10 days instead of 6 the days previously.
3 Permit for Business travel have been suspended indefinitely.
4 Urgent applications have been cancelled with immediate effect.
5 Guangdong Residents are now only allowed to visit Macau on a single entry permit instead the previous double entry permit.
6 There will be breaks inserted in between the visits of two months.
7 They may restrict permits altogether.
There still no official announcements on the confirmed measures that currently are undertaken.
The affect that this will have on Macau will be significant, and the impact should be seen in a few months time around the time when the Venetian Macao is expected to open itÂ’s doors.
The stock markets already reacted last Friday as shares of Melco PBL, Las Vegas Sands and Wynn Resorts dropped heavenly on these new measures and concerns!
Add to this the fact that the affect this will have on the VIP rooms income, SJM has already said that its VIP business has dropped by 10-15%, the monetary impact could be quite huge!
The onus now on the casino operators and gaming authorities, to convince the Guangdong government, that they can control the gambling addictions and wastage. They need to introduce responsible gaming and gambling addiction regulations and organizations to support it.
May 30, 2007 -
this is good news for singapore coz this feel force them to come here.
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Until the Chinese government puts a restriction on Chinese travelling to Singapore.Originally posted by curryman:this is good news for singapore coz this feel force them to come here.
Hehehe..... -
good, for the time being.
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how can they do that?visa is given by the foreign countryOriginally posted by maurizio13:Until the Chinese government puts a restriction on Chinese travelling to Singapore.
Hehehe..... -
Their Chinese government's motive is to rein in capital outflow. They already putting restrictions on Macau, which is a part of China, what more can you say about Singapore.Originally posted by curryman:this is good news for singapore coz this feel force them to come here. -
Aiyo, they can restrict citizens from travelling abroad lah. You don't know how they do things in PRC meh. My friend a PRC wants to buy ticket has to go through travel agency, which is government owned.Originally posted by curryman:how can they do that?visa is given by the foreign country -
Even our government which is a notch better than PRC, restricted tourist to Batam. They found out alot of old man go over donate money to help the poor women.Originally posted by curryman:how can they do that?visa is given by the foreign country