Alleged Visa Cutbacks Cause Casino Shares to Fall

21 August 2008

According to Reuters, after an anonymous source claimed stricter individual visa requirements were in Macau’s future, casino shares plummeted on Tuesday.

The source, quoted by a Portuguese news service, asserted that the Chinese government wants to pull back on allowances and give visitors access to Macau only once every six months, instead of every two.

Among the shares to drop were MGM Mirage, which fell 11.18 percent, and Las Vegas Sands Corporation, which fell 11.64 percent.