Las Vegas Sands and Macau Casino Stocks Rise on China Visa Easing

On Monday, shares of Las Vegas Sands (NYSE:LVS ) and other companies with casino operations in Macau saw an uptick following China's announcement to relax visa regulations. Starting December 1, residents of Shenzhen will have the opportunity for unlimited travel to Hong Kong within a single year, as reported by China Central Television. Additionally, residents of Zhuhai will be eligible to apply for a visa permitting weekly visits to Macau for up to one year.

The easing of visa restrictions has prompted a positive response in the stock market for U.S.-listed companies associated with the casino industry in Macau. Las Vegas Sands experienced a 3.2% increase, while other related stocks such as Melco Resorts & Entertainment (NASDAQ:MLCO ), Wynn Resorts Ltd (NASDAQ:WYNN ), and MGM Resorts (NYSE:NYSE:MGM ) also witnessed gains. Macau-based SJM Holdings (OTC:SJMHF ) saw a rise of 3.4%, and Sands China (OTC:SCHYY )'s shares went up by 4.5%.

Retailers in Hong Kong are also benefiting from the relaxed visa rules, with notable increases in their stock prices. Sa Sa International surged by 9%, Samsonite grew by 4.9%, and Chow Tai Fook advanced by 3.1%. This movement reflects a broader lift in consumption-related shares in the region.

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Source: Investing.com