Macau has lifted the strict quarantine for visitors from China. The travel from China has been made quarantine free and as the result of it, the stocks have risen for the casino in Macau.
Macau casino stocks were reported to be highest at their highest level in almost two and a half months after the re-opening.
As per Gambling Insider reports, Galaxy Entertainment Group rose as much as 12%, the most since March 2020, while Sands China Ltd. rose as much as 10%, its biggest gain since December 2018. MGM China Holdings Ltd., Melco International Development Ltd., and Wynn Macau Ltd. meanwhile all saw shares rise around 9%.
Bloomberg Intelligence analyst Angela Han Lee said: “Easing quarantine policy between mainland China and Macau could provide a ground for foot traffic improvement for Macau casinos. We now need to watch how the mainland’s policy toward overseas gambling is in March as it does not want Macau to become an infrastructure facilitating that.”