It is a well known fact that the major gambling hub in Asia – Macau, has been going through hard times and the issues with the revenues generated are getting more and more complicated.
However, it looks like there is a light at the end of the tunnel and Macau-based venues will get a relief from all the troubles that have befallen them recently.
The local gambling sector is about to get an incentive as the problematic border crossing matters are going to be solved soon and Chinese residents will be allowed to visit casino venues, located in Macau.
A few days ago Macau authorities informed the community that the opening hours of three casinos, located in Guangdong province, will be extended. The new working hours have become officially valid on Dec.18th.One of the venues is located at Hengqin Island and the other two are situated at Zhuhai.
An experienced market analysts commented that the extension of the working hours will definitely be beneficial as far as the daily turnover is concerned because travelers who are staying in Macau for one day only will be given the chance to indulge themselves in gambling activities regardless of their short stay.
Such a wise move is believed to be favorable to the venues for which 2014 was definitely not the most successful one.
One of the key reasons that have led to the rapid decrease was the policy for limiting the corruption. Although it was said to be essential for the well being of the country, it resulted in a decrease in the VIP revenue and a downfall of the mass market.
Another factor that make the regulators believe in the success of the new approach towards solving the revenue issues is the fact that approximately 40% of the turnover is generated by residents of the Guangdong province. Now, when they are enabled to spend more time participating in gambling activities, the sales are expected to increase.
Another thing, worthy of mentioning, is the fact that prices for housing in Macau are pretty much unbearable and the extended working hours could also make them a bit more reasonable.
The analyst continued with the optimistic predictions and said that the house shortage issue is about to be solved due to the extension of the border crossing hours as it will make it possible for employees to live in China and cross the border in order to go to work.
Apparently, Chinese authorities support Macau and want it to remain competitive. The anniversary of Macau’s handover to China is approaching. That is why President Xi Jinping is going to visit Macau and according to the analysts, this is his gift to the area that currently has a status of a Special Administrative Region.
