China’s resumption of e-visas to boost EBITDA in Macau – analysts

China will begin to process applications for exit e-visas to visit Macau for individual or group travel on Tuesday (November 1).

Macau.- The analyst DS Kim of JP Morgan Securities (Asia Pacific) has suggested that the return of electronically-issued exit visas for Chinese residents from tomorrow (November 1) will be a significant step towards Macau’s normalisation. He noted that it will reduce friction for Macau trips as there will be no need to book an application in advance, no interviews and no need to wait more than seven days for approval.

Kim expressed confidence in a gradual but significant recovery from December. He suggested Macau’s gaming sector could reach positive earnings before interest, tax, depreciation and amortization (EBITDA) and about 35 per cent of pre-pandemic mass gross gaming revenue (GGR).

However, there are still multiple testing requirements for travellers and general tourism sentiment in mainland China remains pessimistic on fears of a new outbreak of Covid-19 cases.

China’s National Immigration Administration today confirmed the resumption of the e-visa system from tomorrow. Applicants will still need to present themselves in person at the appropriate office in order to register their electronic application. According to the announcement, “the e-application… requires the applicant to have a valid Hong Kong/Macau entry permit without having to submit any paper materials.”

The immigration department warned that anyone who has travelled from or lived in places of mid- and high-risk of Covid-19 infection cannot use the e-visa. The statement also advised citizens to “stay aware of the Covid-19 prevention and control measures in the mainland and in Macau”.