The Macau government has eased travel restrictions for the last two remaining Mainland China regions – Hebei and Heilongjiang Provinces, removing their need for a 14-day quarantine.
This means that all individuals entering from Mainland China will no longer need to undergo medical observation or self-quarantine.
The news was positive for Macau casino stocks, which surged to a two and a half month high, according to Bloomberg.
Sands China Ltd. stocks rose 10 percent, whilst Galaxy gained 12 percent. Melco, MGM and Wynn rose around nine percent.
“Easing quarantine policy between mainland China and Macau could provide a ground for foot traffic improvement for Macau casinos,” according to Bloomberg Intelligence analyst Angela Hanlee.
“We now need to watch how the mainland’s policy toward overseas gambling is in March as it does not want Macau to become an infrastructure facilitating that.”
Macau has been in dire need of arrivals from Mainland China, the most recent reported figures saw Macau visitation falling 80.5 percent in January year-on-year.
Beijing has been pressed by Macau’s tourism authorities to restart the Individual Visit Scheme (IVS) electronic visa, which would allow for more seamless travel between the two countries.
MGTO director Maria Helena de Senna Fernandes as well as industry experts agree that the in-person process would make them hesitant, and a switch back to a digital application process would increase visitor numbers significantly.