Wynn Resorts has doubled its casino space at its Macau property that opened three years ago, catering to Chinese visitors focused on gambling rather than amenities such as fine restaurants. Wynn also plans to convert a rarely used theater into a space for slot machines and VIP gamblers to meet demand. In Macau, 90% of revenues for Wynn comes from gambling, as opposed to 50% for Las Vegas
Smart Brief reports that all this has been done because China has quietly eased restrictions on its citizens traveling from Guangdong province to Macau, according to reports.
Note that this is not official. There has been no government statement. Merely a news leak — and that came from two directors of Wynn resorts. According to them, Guangdong residents are now allowed to visit the former Portuguese enclave once a month, up from two trips a year under previous rules. The news sent Hong Kong-listed casino stocks soaring on Monday.
Though there has been no official word on this yet, the media reports it would not be a complete surprise that China is relaxing the visa restrictions for Macau ahead of its 60th Anniversary celebrations.