The “latest channel checks have indicated that frequent gamblers to Macau have seen visa issuance denied by China immigration offices,” says a Monday memo from brokerage Sanford C. Bernstein Ltd, referring to the exit visas needed for mainland residents to visit Macau.
The note also said that Macau casino gross gaming revenue (GGR) for May 10 to 15 represented on a daily average basis MOP50 million (US$6.2 million), “the worst” performance “since October 2020”, i.e., the date from which the mainland “resumed IVS [individual visit scheme travel]” for mainland residents wishing to travel to Macau.
The brokerage added that the performance – judged against the first nine days of May, including a Chinese public holiday period surrounding Labour Day on May 1 – was down 75%.
The intended destinations of those people barred from exit were not specified in the announcement.
To date, mainland China is the only place that has a largely quarantine-free travel arrangement with Macau.
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