Macau casino operators surge on expectation of first mainland tour groups in Nov in three years

 

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Shares of Macau Casino operators are rallying in Hong Kong, with Sands China surging more than 13%, SJM Holdings up nearly 12%, WYNN Macau up 8.9%, Melco International Development up more than 8%, Galaxy Entertainment up more than 7%, MGM China up 7.1%.

Macau will hopefully be able to receive mainland tour groups again from November, for the first time in nearly three years, said Chief Executive Ho Iat-seng on Saturday.

He made the request because mainland visitors are very important to the local economy and central authorities had approved it, he said.

Tour groups from Guangdong, Fujian, Zhejiang and Jiangsu and Shanghai will be able to come first, adding the initial target is to receive around 40,000 visitors a day – which is half of the capacity prior to the Covid pandemic, he added.