Growing protests in the Asian financial center of Hong Kong are weighing on the ...
HONG KONG - Growing protests in the Asian financial center of Hong Kong are weighing on the neighboring Chinese territory of Macau as some visitors steer clear of the world’s biggest gambling hub, worried over transport disruptions and safety concerns.
“When you have hundreds of flights canceled out of Hong Kong and some reluctance to travel, I do think that’s impacting the premium end of the business,” Matt Maddox, chief executive of Wynn Resorts, which runs two Macau casinos, said this week.Macau is an hour away by ferry from Hong Kong or a 30-minute drive from its international airport. Nearly a third of Macau’s visitors arrive by sea or a recently-built bridge.
Casino executives and analysts said the protests were likely to affect gaming revenue for the next few weeks at least, in what is typically a busy period in the former Portuguese colony.Vitaly Umansky, an analyst at Sanford C. Bernstein, said not much could be done to deflect headwinds for gaming revenues, as Chinese visitors have canceled trips.
Canada Latest News, Canada Headlines
Similar News:You can also read news stories similar to this one that we have collected from other news sources.
China Warns Hong Kong Protesters, Signals Growing ImpatienceChina’s top office for Hong Kong affairs signaled Beijing’s waning patience with protesters in Hong Kong, warning them not to underestimate the strength of the central government and urging the local police to punish those who break the law.
Read more »
More protests as U.S. raises Hong Kong travel warning amid growing unrestThe United States raised its travel warning for Hong Kong, urging travelers to e...
Read more »
Beijing says the Hong Kong police is 'fully capable' of punishing criminal activitiesThe Hong Kong government and police are 'fully capable' of punishing criminal activities and restoring public order, a spokesperson for China's Hong Kong Affairs Office said on Tuesday.
Read more »
Chinese Troops in Hong Kong Keep Low Profile but Stand ReadyChina has stationed an estimated 6,000 to 10,000 People’s Liberation Army troops in Hong Kong, and recent military drills have raised the specter of their intervening to quell demonstrations, although the possibility is widely seen as remote.
Read more »
Beijing calls Hong Kong protesters 'arrogant lunatics,' warns of government's 'immense force'Beijing issued its sharpest warning so far to Hong Kong protesters, calling them “arrogant lunatics” who should not underestimate the central government’s “immense force,” but did not take any new measures to control the situation.
Read more »
United States issues travel advisory over Hong Kong protestsThe United States has become the latest country to issue a travel warning over Hong Kong's ongoing protests, which have at times turned violent and seen parts of the city brought to a standstill.
Read more »