February 24, 2021, 10:32 am ·
China lifted the quarantine banning travels to Macau region. Not long after that, Macau’с casino stocks rocketed to their highest level in almost two and a half months.
Macau hasn’t lifted the quarantine rule fully on visitors from China but only gradually, since the last China city was deemed low-risk for transmission on the coronavirus with no new clusters in the country. According to Bloomberg, the lift of such measure was exactly the reason for the rising stocks phenomenon in Macau.
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) Macau casino stocks surged the most in nearly two and a half months after the gambling hub reopened to quarantine-free travel from mainland China.Sands China Ltd. surged as much as 10%, the most since December 2018, and Galaxy Entertainment Group Ltd. rose much as 12%, its steepest gain since March 20. Shares in Wynn Macau Ltd., Melco International Development Ltd. and MGM China Holdings Ltd. each climbed about 9%. A Bloomberg gauge for the sector’s equities jumped as much as 8.5%, the most since November 10.Macau has gradually been easing quarantine rules on visitors from China, its biggest market, with the final lifting of restrictions on Monday adding to optimism after data showed casino revenue surged last week during the Lunar New Year holidays.“Easing quarantine policy between mainland China and Macau could provide a ground for foot traffic improvement for Macau casinos,” said Bloomberg Intelligence analyst Angela Hanlee. “We now need to