Visa clampdown may crimp growth, BoA/Merrill Lynch says

    China’s state-broadcaster CCTV has warned that many mainland residents visiting Macau do so on a third-country transit visa system, but never actually travel to their final destination. The report raised concern officials may be planning a clampdown. Bank of America/Merrill Lynch said in a worst-case scenario such a move may cut gross gaming revenue by between 3 and 5 percent. Macau immigration rules permit mainland passport holders to stay in the territory up to seven days if they use Macau as a transit to other destinations. In the case the Macau government only shortens the stay from 7 days to a shorter period, the impact should be limited, it said.