Casino operators in Macau may get a much-needed boost from new rules regarding border crossings with China.
Last month the Macau government announced extended opening hours for three major checkpoints in China’s Guangdong province - one at Hengqin island and two in the city of Zhuhai.
“We believe it the extension of hours could be positive in terms of the number of hours spent at gaming tables by same-day travellers and thus potentially for casino operator revenues,” said a Barclays analyst.
The crossing between Macau and Hengqin island will be open 24 hours a day, while the Gongbei Border Gate in Zhuhai will be open for two hours longer. The Zhuhai-Macau Cross-Border Industrial Park will be open to all Macau residents; currently, it’s only open for employees of the industrial park.
The move could be vital for a casino market facing its first-ever year of annual revenue decline. In October, gaming revenue dropped 23 per cent on year, the fifth straight month of declines and the steepest drop on record following two years of impressive growth.
