Macau Casino Shares Soar as China Tour Groups to Return
Macau will welcome back tour groups from mainland China in November. Shares in the Special Administrative Region's casinos have soared.
Macau Casino Shares Soar as China Tour Groups to Return. Macau CEO announced mainland China tour groups can return to the gambling hub in November. Wynn Macao's stock climbed 7%, while shares of MGM China and SJM Holdings jumped 8%. Galaxy Entertainment saw its shares climb 10%.
Macau will allow groups from Guangdong, Shanghai, Zhejiang, Jiangsu, and Fujian to visit Macau. The first phase will see groups allowed in from these provinces. Chinese gamblers cannot currently get the e-visa service they used pre-pandemic to make instant group bookings.
Macau's CEO announced on Saturday that e-visas and group travel will be allowed in early 2023. Mainland gamblers account for 90% of Macau’s total casino revenue.