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Macau Lifts Coronavirus Travel Restrictions From Mainland China, Boosting Casino Stocks

Macau Lifts Coronavirus Travel Restrictions From Mainland China, Boosting Casino Stocks
Shares of casino stocks rallied Tuesday after it was announced that visitors from mainland China would no longer be required to quarantine upon entering the popular tourist island of Macau.

What Happened: Tourists are now able to enter Macau from the mainland to visit its many gaming casinos and resorts.

The removal of this final restriction lifted shares of Wynn Resorts Ltd (NASDAQ:WYNN), Las Vegas Sands Corp (NYSE:LVS) and MGM Resorts International (NYSE:MGM) as much as 8.5% in Tuesday’s session.

Although revenue in gaming surged last week during the week of Lunar New Year, according to Bloomberg, Chinese mainlanders now have the freedom to return to the casino resorts without social restrictions, which could help to revive the sector.

BofA Securities analyst Billy Ng expects demand to return in March and April.
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