China reinstates tourist visas to Macau from Sep 23 in boon for casinos

China reinstates tourist visas to Macau from Sep 23 in boon for casinos

FILE PHOTO: People wearing masks walk in front of Casino Lisboa in Macau
People wearing masks walk in front of Casino Lisboa before its temporary closing in Macau, China, Feb 4, 2020. (Photo: Reuters/Tyrone Siu)

HONG KONG: Macau, the world's biggest casino hub, is set to welcome an influx of gamblers after China on Tuesday (Aug 11) announced that tourist visas, through which the majority of visitors enter the Chinese territory, would be reinstated for all provinces from Sep 23.

Casino executives and investors have been eagerly awaiting the announcement as a catalyst to reviving gaming revenue, which has slumped since February due to COVID-19 travel restrictions.

China's National Immigration Administration said, provided the domestic coronavirus situation continued to improve, residents would be able to apply for individual and group travel visas to enter the special administrative region located on the country's southern coast.

Visitors from greater China make up more than 90 per cent of tourists to the former Portuguese colony of Macau.

Shares of Hong Kong listed casino stocks soared on Tuesday following the announcement.

Residents from the neighbouring coastal province of Guangdong on the mainland will be able to apply from Aug 26, the National Immigration Administration said. Residents from Zhuhai city across the border from Macau are permitted from Aug 12.

The announcement comes nearly a month after China loosened coronavirus-related border restrictions between Macau and Guangdong.

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Source: Reuters

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