doing the same on Sept. 23<\/a>. A primary reason why it’s going to take time for these actions to benefit Macau is, well, time. Reports indicate it’s taking authorities a week or more to approve new travel permits for Zhuhai residents.<\/strong><\/p>\n<\/div>\n\u201cThe wait on IVS visa applications is approximately seven to 10 days, as automated visa issuance system is not yet active, and applicants have to go through the application process in person (for now),\u201d according to Bernstein.<\/p>\n
Compounding Macau’s woes is that the border with Zhuhai was closed for a period last Thursday because Typhoon Higos passed over the casino center.<\/p>\n
Some Green Shoots<\/h2>\n
It’s not all glum news in Macau. In fact, resumption of Zhuhai IVS issuance confirms that as more regions join the party, the gaming mecca could see a massive influx of visitors.<\/p>\n
The SAR averaged 5,600 daily visitors from Aug. 1 through Aug. 12, but that figure jumped to 7,700 last week<\/strong>.<\/p>\n\u201cSince Zhuhai tourism visa resumed on August 12, there have seen some pickup, but not an obvious recovery\u201d in Macau\u2019s visitor numbers or GGR, said the Bernstein analysts.<\/p>\n
With the rest of Guangdong province rejoining the IVS party tomorrow, Macau visitation and GGR numbers could start to see material improvement by mid-September.<\/p>\n
Month-to-date, as of Aug. 23, Macau’s gaming turnover tally is around $119, notes Bernstein. The daily rate is on pace to be 95 percent lower on a year-over-year basis and five percent below July’s figure.<\/strong><\/p>\n","protected":false},"excerpt":{"rendered":"Earlier this month, the city of Zhuhai in Guangdong province started reissuing tourist visas, a move widely expected to lift the fortunes of Macau’s ailing gaming industry. But there’s yet to be much positive impact from that decision. As such, analysts are reiterating the view that recovery in the world’s largest gaming hub will take […]<\/p>\n","protected":false},"author":46,"featured_media":146101,"comment_status":"open","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"_acf_changed":false,"footnotes":""},"categories":[69069,62],"tags":[],"acf":[],"yoast_head":"\n
Macau Is Still Waiting to See Benefit from new IVS Policies<\/title>\n\n\n\n\n\n\n\n\n\n\n\n\n\t\n\t\n\t\n\n\n\n\n\n\t\n\t\n\t\n