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Shares of Macau casino operators rally on Monday, with Sands China gaining 4.4%, Melco International Development up 3.5%, Wynn Macau up 2.6%, MGM China up 1.6% and Galaxy Entertainment up nearly 2%.
China’s immigration bureau said on Monday that mainland residents would be able to use an online visa system from Nov. 1 to travel to the former Portuguese colony.
In-person applications have been required for the past two and a half years due to COVID-19 restrictions, but the bureau said that as the current COVID situation in Macau was stable and demand to visit the city was increasing, the government had decided to offer e-visas.
However, uncertainties increase as Macau authorities reinstated COVID-19 curbs including locking down a major casino over the weekend after a handful of cases were detected.
Authorities locked down the MGM Cotai casino resort owned by MGM China on Sunday with staff and guests ordered to stay inside until Nov 1. All of Macau’s 700,000 residents are required to take rapid antigen tests daily during the period, the government said.