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THE share prices of a number of casino operators in Macau surged today. See, casino shares listed on the Hong Kong stock exchange include Wynn Macau and MGM China rose between 6% -11% on Tuesday morning, outperforming the Hong Kong benchmark index which fell 0.7%.
The main sentiment that drives the shares of casino operators came after China relaxed restrictions on the border related to the corona virus. This is a gap to restart business gradually in the largest gambling center in the world that had been abandoned by visitors due to the corona virus pandemic.
Monday (7/13) night, local authorities said that visitors coming from the Macau special administrative area no longer had to undergo a quarantine period of 14 days in the coastal province of Guangdong.
Analysts said the policy, which took effect on July 15, was the first step towards normalization in the former Portuguese colony. Just so you know, the border between Macau and mainland China has been effectively closed since the end of March.
“We expect demand from Guangdong to recover quickly to 70% of normal levels, assuming visa policies will return soon,” said DS Kim, an analyst at J.P. Morgan in Hong Kong.
Even though there is no need to quarantine, visitors still must provide information about having tested the corona virus with negative results within the previous seven days. In addition, visitors to the gambling center also need to hold green health codes in Macau and Guangdong. [kontan.co.id/photo special]
