Macau Casino Stocks Jump On Easing Of Visa Restrictions
As Macau begins to ease tourist visa restrictions for mainland visitors, shares of casino operators are on the rise. Shares of Sands China Ltd. were up 4.4% today to HK$13.70, Wynn Macau Ltd. went up 4.9% to HK$3.29, and Galaxy Entertainment Group Ltd. rose 3.0% to HK$36.25. This sudden increase comes as China’s National Immigration Administration stated they would resume visa applications for mainland residents on November 1. The easing of visa restrictions is the first step in Macau’s road map to regaining the interest of investors.