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GGR numbers in the special administrative region (SAR) are in the midst of a six-month streak of year-over-year declines of at least 90 percent. intertops casino no deposit bonus codes september 2021 In late August, Guangdong province restarted issuing individual visit scheme (IVS) tourist visas, with the rest of mainland China following suit on Sept. 23, stoking hopes that pent-up demand would follow, bringing an influx of gamblers to Macau. Valley Forge Casino Resort 1160 1st Ave Jzou However, lengthy approval times for those permits and Beijing clamping down on cross-border money transfer is hindering the casino hub’s rebound efforts. online casino visa gift card We were overly hopeful on the prospect of pent-up demand, which we thought would outweigh the nuisances related to travel arrangement to Macau and stricter capital control,” said JP Morgan analysts. Free Wonder 4 Slots Rfcx Citing national security concerns, Chinese authorities are making it harder for VIP gamblers to move money into junket accounts, making Macau’s near-term recovery more dependent on mass market players that spend less. seven feathers casino reservations VIP WoesWith higher-tier gamblers staying away for now, efforts to rejuvenate GGR are hamstrung, with recent data points confirming as much. Revenue for the recently concluded Golden Week festival slumped 76 percent year-seven feathers casino lodgingover-year, dashing hopes that the holiday could set the stage for a fourth-quarter rebound in Macau. For gamblers and concessionaires, Beijing’s crackdown on cross-border money flows is a vicious circle. oxford casino news

Players are pulling billions of dollars from junket accounts, forcing those companies to yank deposits held at gaming venues. foxwoods resort casino job openings In turn, operators are enforcing caps on cash chip withdrawals. free casino slot games online Much of the problem revolves around Hong Kong. That SAR serves not only as a major travel artery for Macau, but a vital thoroughfare for capital moving off mainland China and on to the gaming enclave. Analysts say the bulk of cash being withdrawn from junket accounts is denominated in Hong Kong dollars. royal ace casino payout review That SAR accounts for about 15 percent of Macau GGR. Making matters worse is that Hong Kong still enforces a 14-day quarantine policy on travelers arriving from Macau, significantly