Macau Shares Rise After 3 Grueling Years

Macau Shares Rise After 3 Grueling Years

The thing about the pandemic is that it’s far from over. It took everyone by surprise and lots of people and businesses suffered. They had some time to recuperate, but with the pandemic showing no sign of stopping, they still have a long way to go.

The casino industry was also hit. One such region is the Macau region which has been in decline for the past 3 years. But recently the country’s leader announced that the country will continue with the e-visa program for travelers and even allow group tours. This piece of good news bumped the shares a bit.

The Current Situation

Macau was hit by the pandemic back in 2020, as did the rest of the world. Restrictions were put in place and the casinos suffered. Once the first wave of restrictions was lifted, people and casinos had breathing ground.

Nowadays, the pandemic is hitting hard again which is why new restrictions have been put in place. It seems like a prudent measure and the people of Macau need to be kept safe. But the thing about it is that 90% of Macau’s revenue is made up of tax revenue from casino venues.

With a number like this, it’s evident that a large portion of the population of Macau is employed in these establishments. Nowadays, they can work if their work can be completed from home or online. But the recent decisions of China’s president have given businesses and employees some hope.

In other words, the nation’s leader announced that in November, this year, the e-visa program would continue and visitors to Macau will also be allowed to take part in group tours. Tourism is another one of Macau’s primary sources of revenue which is why this is good news.

This decision boosted morale as well as the shares of some of the biggest complexes in the region. SGM and MGM China’s shares increased by 8%, Wynn Macau’s shares jumped by 7% and Sands China’s shares rose the most by 13%. This is a good sign of things to come as the region is preparing for a fresh injection of revenue into the budget.

Conclusion

Country leaders need to take all sorts of precautions to keep their people safe. But they also need to stimulate the economy to sustain an entire society. That’s why Macau will continue to be a tourist attraction with the e-visa program.

About the author
Richard Grant
Say hello to Richard Grant! Armed with a Law and Business degree and 17 years of industry experience, he launched this platform in 2007 to be your ultimate guide to the casino world. Specializing in game guides, reviews, and strategic insights, Richard is devoted to helping you hit the jackpot. Come join us on this exciting journey toward big wins!

Related News

Australian Player Nabs 51K Jackpot Online

Australian Player Nabs $51K Jackpot Online

Australia has its fair share of casino venues and they are visited by loyal players. Naturally, other visitors walk through the doors daily. Some of them are lucky enough to grab a…
Sep 27, 2022 Business
Louisiana Casino Revenue Drops Sports Betting Revenue Rises

Louisiana Casino Revenue Drops, Sports Betting Revenue Rises

Casinos have revenues spanning in the millions since lots of people visit them. They are all over different states in the US and their revenues will seem pretty good to any regular…
Sep 23, 2022 Business
A Manhattan Casino in the Making

A Manhattan Casino in the Making

Certain states have turned that have yet to legalize casinos in the States. But a larger number of them offer licenses to operators for establishing land-based casino venues. New York is one…
Sep 19, 2022 Business
Seminole Casino Hotel Increases Employee wages

Seminole Casino Hotel Increases Employee Wages

Employees of the Seminole Casino Hotel were met with some good news recently. The Florida-based casino and hotel resort is increasing the wages of its employees by upwards of 60%. Close to…
Sep 14, 2022 Business
A New Site Has Been Suggested for Headwaters Casino

A New Site Has Been Suggested for Headwaters Casino

The Pamunkey Tribe has recently suggested a new site for their temporary Headwaters Casino. The destination proposed is the Harbor Park parking lot. The original idea suggested by the Pamunkey Tribe was…
Sep 13, 2022 Business
New England Casino Named Best Casino Outside of Vegas

New England Casino Named Best Casino Outside of Vegas

Las Vegas is certainly a name synonymous with gambling and casinos. It will surprise no one to find out that Vegas is home to some of the highest-rated and most beloved casino…
Sep 12, 2022 Business
Manchester City Partners Up with LeoVegas

Manchester City Partners Up with LeoVegas

LeoVegas is a Swedish company that provides online casino services and sports betting options. They are most popular for their slot jackpots, video poker games, and their live betting service, which allows…
Sep 09, 2022 Business
Casino Suppliers Are Abandoning Macau in Favor of Singapore

Casino Suppliers Are Abandoning Macau in Favor of Singapore

Macau is one of the biggest and most well-regarded tourist destinations in Asia, and more broadly, the world. Considered by many to be the gambling capital of the world, Macau, for a…
Sep 08, 2022 Business
Universal Entertainment Takes Over Okada Manila Casino

Universal Entertainment Takes Over Okada Manila Casino

After a long dispute between the two factions, the Universal Entertainment corporation in Japan announced on Sunday (September 4) that they are taking over operations at the Okada Manila Casino in the…
Sep 07, 2022 Business
Legends Bay Casino: A New Casino in Nevada

Legends Bay Casino: A New Casino in Nevada

Nevada is an important state to the casino industry because it’s home to Las Vegas. Every casino fan knows about Vegas and the kinds of casinos it offers. Along with some other…
Aug 31, 2022 Business
Lil Baby Wins $1 Million at Vegas

Lil Baby Wins $1 Million at Vegas

Celebrities have all sorts of hobbies. Some of them can be unusual ones, while others can be quite normal. This is why you shouldn’t be surprised when you see a celebrity in…
Aug 31, 2022 Business
Elk Grove Casino Opens Early

Elk Grove Casino Opens Early

New casino venues open once in a while all over the world. Their construction process alone keeps a lot of people employed and once that’s done, there’s the need for staff which…
Aug 24, 2022 Business