Macau’s gaming operators have seen a rise in stock values after authorities announced an easing of restrictions with the neighbouring province of Guangdong.
Macau.- A day after authorities in Macau announced a relaxation in border entry requirements for people coming from Guangdong, Macau gaming operators saw their stock values rise.
SJM Holdings stock value grew 12.24 per cent, the largest daily gain among the six Macau gaming operators. Wynn Macau also saw its stocks gain 10.88 per cent in value while Sands China stocks value was up 9.3 per cent.
Melco followed with an 8.93 per cent rise while Galaxy reached an 8.89 per cent rise. Finally, MGM China also saw gains, but up 6.25 per cent.
Macao Government Tourism Office director Maria Helena de Senna Fernandes has predicted Macau could receive 25,000 visitors per day during the October Golden Week. This year, the October Golden Week will be held during the first seven days of October. Last year, the number of visitors entering the city surpassed 20,000 a day on average.
Macau’s Public Security Police has reported that Macau’s visitor arrivals between August 14 to 18 were up 168 per cent when compared to the previous week. There were over 30,000 entries and exits daily between August 16 to 18, up 65 per cent when compared to the previous week.
In July, Macau’s Public Security Police reported that 789,407 visitors came to Macau, a growth of 49.36 per cent month-on-month. Mainland China continues to be the only country to have a largely quarantine-free travel bubble with Macau.
Sands China and Galaxy account for 45.3 per cent of Macau’s GGR in Q2
Financial services firm Deutsche Bank has revealed that Sands China and Galaxy Entertainment Group together contributed 45.3 per cent of Macau’s GGR in the second quarter of the year. The proportion was the same as the previous quarter, when the companies contributed MOP23.6bn (US$2.9bn).
For the second quarter, Galaxy Entertainment Group contributed 20.4 per cent of revenue (US$640m) while Sands China’s contribution was US$782m, 24.9 per cent of the total.
Melco Resorts & Entertainment followed with 17.9 per cent. Wynn Macau was in fourth position with 13.7 per cent, while SHM Holdings accounted for 11.7 per cent and MGM China 11.3 per cent.