(Change the date to Tuesday from Monday in the final paragraph)
HONG KONG, July 14 (Reuters) – Macau casino operator stocks surged Tuesday after China eased its border restrictions on coronavirus, laying the groundwork for a gradual resumption of business in the largest gaming center in the country. world that has seen visitors dry up.
Local authorities said Monday evening that visitors arriving from the Macao Special Administrative Region will no longer have to undergo a 14-day quarantine period in the nearby coastal province of Guangdong.
Analysts said the measure, which will enter into force on July 15th, was the first step towards normalization in the former Portuguese colony, as the border between mainland China has actually been closed since late March.
“We expect demand from Guangdong to quickly return to 70% of normal levels, assuming that visas will resume reasonably soon,” said DS Kim, an analyst at JP Morgan in Hong Kong.
Visitors must have tested negative for coronavirus in the past seven days and must have green health codes in Macau and Guangdong.
Hong Kong shares listed in casinos including Wynn Macau and MGM China rose between 6% and 11% on Tuesday morning, outperforming the Hong Kong benchmark which fell 0.7%. (Reporting by Farah Master; Editing by Shailesh Kuber)