As Macau and China step up cooperation in the Greater Bay Area, the territory’s operators are paying heed and turning their attention to opportunities on the Chinese Mainland.
China’s crackdown on online cross border gambling is showing no signs of easing, with Beijing’s increasing deployment of soft power across Asia reducing safe havens for operators.
Covid-19 outbreaks across various provinces in Mainland China have resulted in the cancellation of 20 percent of room reservations in Macau in June.
China's recent regulatory crackdown, which has caused steep losses in Mainland stocks, is not seen as including Macau's gaming operators, whose shares are likely to rise in the second half, Morgan Stanley said.
As the Nanjing outbreak continues to spread, authorities have mandated that all air travellers arriving in Macau from July 31st onwards will be required to present a negative nucleic acid test taken within 48 hours of their departure.
Amongst increased border restrictions due to outbreaks in Mainland China, hotel room occupancy rates in Macau fell by nearly 17 percent month-on-month, to 45.3 percent.
Macau's Gaming Inspection and Coordination Bureau, or DICJ, has confirmed to Asia Gaming Brief that the watchdog has granted 150 new-to-market gaming tables for SJM's new flagship property the Grand Lisboa Palace.
Chinese lottery services provider, AGTech Holdings, said it expects its loss to narrow by at least 55 percent in the half year to June 30th as businesses rebound from Covid.
Some 144 people have been subjected to mandatory hotel quarantine in Macau after new government mandates due to the outbreak in the Nanjing Lukou airport.
Macau has identified four provinces in China to be subject to mandatory 14-day medical observation, amid a rise in cases in the region.