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Macau-linked casino stocks moved higher in premarket trading on Monday after regulators signaled an e-visa for mainland travelers and tour groups will soon be allowed again to visit the gambling hub.
City officials indicated that looser travel restrictions are due to come into place in November. According to the South China Morning Post, mainland gamblers make up about 90% of spending at Macau casinos, with VIP guests accounting for nearly 70%, driving home the importance of easier entry for these tourists.
Las Vegas Sands (NYSE:LVS) +6.51%, Melco Resorts & Entertainment (NASDAQ:MLCO) +9.8%, Wynn Resorts (NASDAQ:WYNN) +5.1%, MGM Resorts International (NYSE:MGM) +1.7% were among pre-market gainers.
Other Macau-specific casino stocks: Wynn Macau (OTCPK:WYNMF) (OTCPK:WYNMY), Sands China (OTCPK:SCHYY) (OTCPK:SCHYF), MGM China (OTCPK:MCHVF) (OTCPK:MCHVY), Galaxy Entertainment (OTCPK:GXYEF), SJM Holdings (OTCPK:SJMHF) (OTCPK:SJMHY), and Studio City International (MSC).