Galaxy Entertainment Group rose the most, with a 7.4% gain, Win Macau gained more than 6%, and MGM China Holdings, Sands China, and SJM Holdings gained more than 6%. The gains helped push the benchmark Hang Seng index up 3.2 percent.
Li Gang, head of the Chinese government’s local liaison office, told local broadcaster Teledipusa Oder Macau that China would introduce new measures in the coming months to support Macau amid the current “economic adjustments.”
Continuous anti-corruption campaigns affecting global smoking bans and junket operations, along with a slowdown across China’s economy, have hampered growth in the former Portuguese region, which still has nearly seven times the revenue of Las Vegas. Key junket operator Neptune Group recently noted that it may abandon the Macau market unless some form of sunshine appears soon for the HKex-listed company, which lost $106.8 million in the six months to June 30. The company posted earnings of $19.2 over the same period last year.
“Any potential action to help the Macao visit could be a big boon for the industry as casual gamblers are becoming a key pillar of the industry’s bottom line amid weak VIPs,” Bloomberg reported in a note. The report includes that Chinese cities can offer individual visas and multiple entry permits can be introduced.에볼루션 바카라사이트
Other local media reported that the government is also working on other ways to boost local tourism, with the number of Chinese national holidays, known so far as “Golden Week,” almost flat in casinos. Historically, Golden Week ranked second in Macau in terms of number of visitors and casinos, following the Chinese New Year period.