In a significant boost to the recovery of the gaming industry, the provincial government of Guangdong agreed that travelers returning from Macau would no longer be subject to a mandatory 14-day quarantine, effective Wednesday.
Bernstein Research quickly issued a note describing this as “a step in the right direction” but also noting that many restrictions remained.
“There continue to be restrictive hurdles on movement into and out of Macau. Individuals coming to Macau from outside of Guangdong would face difficulties in travel as they would likely need to stay in Guangdong for two weeks prior to traveling home, which will severely restrict visitation. Further, there is still no word on the timing of restart of IVS insurance (or group travel visa insurance,” the note observed.
Still, markets strongly welcomed the news with the stock values of the Macau concessionaires rising handsomely in the wake of the announcement.
Meanwhile, Macau health authorities announced that, also effective Wednesday, anyone entering casinos will have to present a negative Covid-19 test and display a health identification code.