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    QONEQT in News

    26-Sep-2022 11:25 AM


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    Macau casino operators soar as China allows tour groups after nearly 3 years By Reuters

    A woman walks past a Bank of China branch next to the Grand Lisboa hotel and casino (R) in Macau, China December 21, 2019.

    Mainland gamblers account for around 90% of total casino revenue.

    "Although it's tough to quantify the immediate benefit, we believe the resumption of e-visas and group tours should alleviate friction for a Macau trip, as well as signal to many that it's okay to visit," said DS Kim, an analyst at JP Morgan in Hong Kong.

    "Finally we feel we can talk about a return to normalcy."
    Sands China (OTC: ) rose more than 13%, Wynn Macau (OTC: ) climbed 7%, Galaxy Entertainment advanced 10% while shares of SJM and MGM China (OTC: ) jumped 8% each.

    Currently, Chinese tourists to Macau need to book a visa appointment followed by a week-long approval process.
    Source: Investing.com
    #MacauCasino