Macau’s government has intervened to dispel rumors that Mainland China is about to change visa issuance rules. The Government Tourist Office came out after Macau Daily News reported China was about to tighten up on Individual Visit Scheme visas and it caused Macau casino firm stocks to fall. Gigi Chiu, a spokesperson for the office, told Bloomberg: “We have not received any notice on China tightening visa issuance to visitors traveling to Macau”. It comes after both Goldman Sachs and Bank of America Merrill Lynch made similar statements.
One set of Macau based analysts are not optimistic about Melco Crown Entertainment’s plans to crash the Filipino casino business party. Union Gaming analysts Grant Govertsen and Felicity Chiang were rather uncomplimentary about the company’s plans to enter the Philippines as part of a joint venture with Belle Corporation. An investors note, carried by Macau Business, stated: “Melco Crown can generate better returns on capital elsewhere, namely Macau (Macau Studio City and another hotel tower at City of Dreams), while we think better and lower risk greenfield opportunities exist in likely future markets such as Japan and Taiwan”.
The Philippine haters went even further, stating: “We are not sold on the concept of the Philippines (and Manila specifically) becoming the second Asian gaming market behind Macau, let alone being big enough to support an additional four major new integrated resorts”. Did Union’s wife cheat on them with Manila or something?
Police in Macau have busted a scheme that involved 19 people scamming a casino. According to Macau Business the authorities stated there are still 10 suspects at large and it cost three casinos MOP13 million (US$1.6 million). The scam was carried out using cameras hidden up conspiracy members’ sleeves and croupiers plus at least one security guard were in on the scheme.