Macau gaming shares jumped yesterday after the SAR said it would grant visa-free entry to five Middle Eastern countries from next month.
Sands China (1928) soared by 5.28 percent and became the best performer among blue chip stocks yesterday. Shares in MGM China (2282) and Wynn Macau (1128) rose 4.76 percent and 1.57 percent, respectively. Gains in Galaxy Entertainment (0027) were narrower at just 1 percent, and SJM (0880) only inched up by 0.4 percent. Melco International Development (0200), on the other hand, fell by 1.22 percent.
Citizens of Saudi Arabia, Qatar, Kuwait, Bahrain, and Oman will be allowed to enter Macau without a visa or authorization to enter and stay, according to an executive order published in the official bulletin on Monday. The command, which was signed by Macau's Chief Executive Sam Hou-fai, will take effect 30 days after publication.
The move follows China’s action to trial a visa-free policy for the four Gulf nations – Qatar has been granted visa exemption since 2018 – earlier this month.
Macau’s gross gaming revenue rose 5 percent year-on-year in May to 21.19 billion patacas (HK$20.64 billion), marking it the highest monthly figure since the pandemic, according to official data.
The increase was supported by the May Day holiday, but the pace of annual growth slowed significantly compared to previous years — down from a 29.7 percent jump in May 2024 and a 3.6-fold surge in May 2023.
Still, Citibank expects the gaming revenue growth to stay at 5 percent in June with stable per capita spending, as consumer gambling appetite remained unaffected by external tariff-related uncertainties.
It predicts a 6 percent year-on-year increase in Macau’s gaming revenue for the second half of the year, driven by concerts and celebrity events, leading to an overall annual growth of 4 percent, exceeding the Macau government’s latest forecast of 0.5 percent.
Meanwhile, UBS cited industry data showing that the SAR’s daily average gaming revenue between June 9 and 15 was 686 million patacas, higher than the 650 million patacas recorded in the first eight days of the month.
While June’s average daily revenue is tracking 2 percent below May’s level, it significantly outperforms the 9 percent average month-on-month decline observed in June from 2015 to 2019, UBS said.
The gaming hub’s gaming turnover would meet market expectations this month if the daily figure for the remainder of June holds at 572 million patacas, the bank said.
