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My Profile Top News Reuters top ten news stories delivered to your inbox each day. Subscribe You are here: Home > News > International > Article Home Business & Finance News U.S. Politics International Technology Entertainment Sports Lifestyle Oddly Enough Health Science Special Coverage Video Pictures Your View The Great Debate Blogs Weather Reader Feedback Do More With Reuters RSS Widgets Mobile Podcasts Newsletters Your View Make Reuters My Homepage Partner Services CareerBuilder Affiliate Network Professional Products Support (Customer Zone) Reuters Media Financial Products About Thomson Reuters China easing Macau visa rules, casinos eye record October Mon Sep 21, 2009 1:58am EDT Email | Print | Share | Reprints | Single Page [-] Text [+] By Doug Young HONG KONG (Reuters) - China has quietly begun relaxing restrictions for its citizens from Guangdong province traveling to Macau, leading to a strong showing for casinos so far this month and big hopes for October, two industry sources said on Monday. Alarmed that some residents of Guangdong were gambling too much in neighboring Macau, China last year imposed a new rule limiting them to two trips per year to the former Portuguese enclave. But the authorities began easing up on the rule as early as two months ago, and noticeably loosened the restriction at the start of this month, said top executives at two of the market's six casino licensees, speaking on condition of anonymity due to the sensitivity of the situation. "The latest version is (they can travel to Macau) once a month out of Guangdong," said one of the executives. "Gaming revenues for the first two weeks of the month have been good." The other executive forecast that October -- a high travel season for Chinese because of the Oct 1 Golden Week holiday at the beginning of the month -- could see monthly casino revenues soar to a record high, in part due to the relaxing visa rules. Macau's six casino operators include U.S. casino giants Las Vegas Sands and Wynn Resorts, along with homegrown players Galaxy Entertainment and SJM Holdings and joint ventures Melco Crown and a casino jointly operated by MGM Mirage. "We're seeing repeat customers coming back more regularly than previously," said an executive at one of the six operators. "It's been occurring for two and a half months, but they probably lightened up even more since the first of September." Macau has rocketed onto the global gambling stage in recent years, following reforms earlier this decade that saw an end to a previous monopoly and awarding of licenses to multiple players, boosting competition. The Macau market generated HK$105.6 billion ($13.5 billion) in gross gaming revenues in 2008, more than double the HK$46.7 billion generated by the Las Vegas Strip during the same period, according to a prospectus from Wynn Macau, the Macau assets of Wynn Resorts, which is preparing an IPO in Hong Kong. Macau reported HK$64,678.1 daily gross win per gaming table in 2008, about three times the HK$21,531.4 reported for the Las Vegas Strip in the same period, the prospectus added. The return of Chinese tourists with the relaxation of visa restrictions and an improving economy helped Macau to post record casino revenue in August, following a 12.5 percent decline in the first half of the year at the height of the global downturn. One of the executives said September is unlikely to notch a new monthly record as many Chinese -- who account for more than half of all gambling revenue -- may delay their trips to coincide with the long holiday that begins Oct 1. "September will be very good but not a record," he said. "October will be the highest because of the eight-day Golden Week." Shares of Galaxy Entertainment were up 1.16 percent in the morning session in Hong Kong, while SJM shares were up 1.63 percent, leading a 0.21 percent for the broader market. (Reporting by Doug Young; Editing by Chris Lewis and Jonathan Hopfner) © Thomson Reuters 2009 All rights reserved Share: Del.icio.us Digg Mixx Yahoo! Facebook LinkedIn Next Article: Yemen president says rebels use "human shields" Pittsburgh G20 summit Bankers pay and the need to examine strategies for withdrawing state stimulus for the global economy have dominated debate ahead of a G20 summit in Pittsburgh on September 24-25. Full Coverage Path forward to Pittsburgh G20 summit More International News Sticky U.S.-Japan issues loom for Hatoyama in New York Kremlin says Israel promised not to strike Iran United Korea economy could pass Japan: Goldman Sachs Israel kills 2 Gaza militants China blames Xinjiang violence for slowed development More International News... More News China easing Macau visa rules, casinos eye record Oct -execs 1:05am EDT Featured Broker sponsored link Editor's Choice Slideshow A selection of our best photos from the past 24 hours. 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