A report by Nomura Securities’ analysts Harry Curtis and Stella Xing was released on the possible changes to travel visas for visitors heading to Macau. The report says a balance needs to be made between local quality of life and tourism capacity. There is also an Individual Visit Scheme (IVS) that allows for free arrival and departure to Macau for 7 days. This travel has to be granted. The report also said there may be changes to the IVS. Four new measures may be in place, which would tighten travel even further.

This is happening in the wake of cleaning up Macau. In recent months, Macau police have tried to end corruption and have made things difficult for travelers who used to come for one to two weeks nearly every month.

Macau casinos are suffering the most by losing a year on year gross, with steady declines in revenue likely to continue. The high-rollers are no longer coming for their frequent trips due to travel visa restrictions and the anti-corruption campaign, as well as an emerging mindset that eschews lavish spending.