lake tahoe biltmore casinoThe news is also a pleasant surprise because some gaming executives recently speculated that the earliest Beijing would greenlight new IVS issuance would be September.There’s no denying investors like today’s news. Construction was underway on both facilities.Issuance of those travel permits was halted late last year in advance of President Xi Jinping’s visit to the special administrative region (SAR). hotels near cliff castle casino“Now, the only meaningful ‘unknown’ is timing of the Hong Kong SAR border/quarantine easing, as demand from Hong Kong probably comprised ~10% of pre-COVID GGR, per our rough estimates.”Prior to today’s IVS announcement, JPMorgan forecast August and September GGR declines in Macau of 85 percent and 70 percent, respectively. Macau officials and concessionaires were hoping for guidance since integrated resorts in the world’s largest gaming center were shuttered for 15 days in February. 26, group visas will also be issued again, but parties from regions deemed medium to high-risk for COVID-19 will be denied.News of wider-ranging IVS resumption comes less than two weeks after the Macau Inspection and Coordination Bureau (DICJ) said July gross gaming revenue (GGR) slid 94.5 percent, extending a streak of monthly declines in excess of 90 percent.Pent Up DemandWith IVS policy loosening up, concessionaires’ theory that there’s pent-up demand will be tested. mohegan sun casino slot winners 2020

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pechanga casino golf(Image: Bloomberg)The news brings much-needed clarity on IVS policy. In midday trading, LVS, the largest Macau operator, is higher by 5.70 percent, while Wynn is up more than six percent. Macau is likely to get much busier over the near-term after Guangdong signed off on reissuance of IVS visas. seneca niagara casino ron whiteThe PGCB’s 2019-20 fiscal year concluded June 30. Construction was underway on both facilities.Analysts, some of whom were surprised by the Tuesday announcement, agree there could be a significant near-term bump in visits to Macau, while noting prior estimates could now prove too conservative.Recall, Macau is the only city outside mainland to/from which mainland Chinese can freely travel without quarantine,” according to JPMorgan. firekeepers online casino in michigan

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