Caixin
Sep 26, 2022 03:31 PM
FINANCE

Macao Casinos Jump Most in Six Months on Tourism Revival Bets

Sands China Ltd. climbed more than 18% on Monday morning, leading the advance, while SJM Holdings Ltd. rose more than 14%. Photo: Bloomberg
Sands China Ltd. climbed more than 18% on Monday morning, leading the advance, while SJM Holdings Ltd. rose more than 14%. Photo: Bloomberg

(Bloomberg) — Macao casino stocks surged the most in six months after the city announced its plan to welcome back tour groups from the Chinese mainland as soon as November, marking a breakthrough that could boost the gambling hub’s tourism-dependent economy that’s been hammered by Covid restrictions.

A Bloomberg Intelligence gauge of the city’s six licensed casino operators gained more than 10% on Monday. Sands China Ltd. climbed more than 18%, leading the advance, while SJM Holdings Ltd. rose more than 14%.

 

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