Macau casino stocks surge with the news of IVS tourist visa resumption

Posted:: Aug 11, 2020 09:53 Category: Asia , Casino , Posted by

The Individual Visit Scheme (IVS) will resume from this Wednesday 12 August


Shares in Macau’s six casino operators spiked as the government in Macau announced the long-awaited news that the IVS (individual visit scheme) visas would be renewed as from tomorrow August 12. 


Galaxy Entertainment shares gained more than 5 percent, SJM Holdings was up 4.8 percent, while MGM China gained 2.7 percent and Wynn Resorts was up over 3 percent in Hong Kong trading.  


The IVS, which was suspended in January, allows mainland residents from 49 cities to visit Macau and Hong Kong and accounted for half of all mainland visitors to Macau last year. Macau has been gradually easing border restrictions since mid-July with Guangdong but travel was only permitted for business or family reasons and had done little bring in new players with just over 2000 daily visitors arriving. 


Macau Tourism Development Committee convenes meeting | AGBThe Secretary for Social Affairs and Culture, Ao Ieong U warned that should Macau register just one new locally acquired case, IVS would be immediately be halted and quarantine conditions implemented again. Those applying for IVS will need to produce a negative COVID-19 virus test obtained within the past seven days and a green health code to be granted a visa. 


No local Covid-19 cases have been reported in Macau for 45 consecutive days. 


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