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Macau’s Casinos Optimistic As Transit Visa Rules Are Relaxed The casino industry in the biggest gambling hub in the world has declined for 17 straight months in the midst of an anticorruption crackdown that targeted VIP gamblers from Mainland China and corrupt officials who spent large sums of income in Macau's casinos. The constant pressure applied to the casino market triggered VIP gamblers from the Mainland to end visiting Macau and as a result the casino market misplaced billions of dollars. The anticorruption crackdown which began in early 2014 continued in 2015 and analysts believed that it might extend even into 2016. Nonetheless gaming analysts feel that the Macau government will have to relax its stringent stance on the gambling market sooner rather than later as the government will get near to eighty percent of its budget from the gambling industry. Union Gaming Securities Asia Ltd not too long ago checked with a number of inner sources before going on record to state that the Macau government programs to loosen up its transit visa principles in an effort to encourage tourism to Macau. This is the second time in 2015 that the government had made the decision to unwind its visa restrictions and this unofficial announcement immediately had an impact on the casino industry share prices. Poker lounge 99 Casinos believe that this could be the first clear indicator that the government is searching to be far more liberal with the casino industry and aid the market place to recover. Grant Govertsen, an analyst at Union Gaming released a statement which stated persons coming into Macau (ostensibly) for the purposes of transiting to a third get together nation would be permitted to keep for up to 14 days (from seven) on one's very first entry into Macau for the duration of any provided month, and would then be allowed to keep up to 7 days (from 2) for a second entry during the identical month This relaxed transit visa scheme will specially benefit junket operators who specialize in brining VIP gamblers in excess of to Macau. The new transit visa guidelines will also to a specific measure aid premium mass industry gamers. Govertsen believes that this announcement will most very likely suggest that the worst days for Macau's casinos are now behind them and that the casino sector can appear forward to bringing in far more consumers and developing their declining revenues. The government is yet to make an official announcement on these proposed visa changes but Li Gang from the Central People's Government Liaison Office in Macau had confirmed a couple of weeks earlier that the government would be rolling out changes to help Macau's struggling casino sector.
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