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Macau casino operators’ stocks rally as China quarantine lifted

02/24/2021| 11:48:05 AM|

Sands China Ltd. stocks rose 10%, whilst Galaxy gained 12%. Melco, MGM and Wynn rose around 9%.

The Macau government has eased travel restrictions for the last two remaining mainland regions – Hebei and Heilongjiang Provinces, removing their need for a 14-day quarantine.

This means that all individuals entering from China’s mainland will no longer need to undergo medical observation or self-quarantine.

The news was positive for Macau casino stocks, which surged to a two and a half month high, according to Bloomberg.

Sands China Ltd. stocks rose 10%, whilst Galaxy gained 12%. Melco, MGM and Wynn rose around 9%.

“Easing quarantine policy between China’s mainland and Macau could provide a ground for foot traffic improvement for Macau casinos,” according to Bloomberg Intelligence analyst Angela Hanlee.

Macau has been in dire need of arrivals from China’s mainland, the most recent reported figures saw Macau visitation falling 80.5% in January year-on-year.

MGTO director Maria Helena de Senna Fernandes as well as industry experts agree that the in-person process would make them hesitant, and a switch back to a digital application process would increase visitor numbers significantly.

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TAGS: travel restriction | Macau
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