By Yifan Wang


Shares of Macau casino operators rose Monday after the Chinese government said it will ease the tourist visa application process for mainland visitors from next month.

Sands China Ltd. shares were up 4.4% at HK$13.70, Wynn Macau Ltd. jumped 4.9% to HK$3.29, while Galaxy Entertainment Group Ltd. added 3.0% to HK$36.25.

China's National Immigration Administration on Monday morning said authorities will resume electronic tourist visa applications from mainland residents traveling to Macau from Nov. 1. The resumption will include both group tour visas and individual ones, the administration said.

The latest green light from Beijing confirmed Macau officials' comments in September that the city has received the central government's go-ahead to resume electronic visas and tour groups in November.

Analysts say visa-easing could offer a much-needed boost for Macau's gaming sector. "In our opinion, now that Macau has a clear road map to recovery, this neglected sector should recapture investors' attention," Citi analysts said in a note. "More importantly, this earlier-than-expected easing shows that Macau has full support from the mainland Chinese government on its economic recovery," they added.

Their top sector picks are Galaxy and Sands China.


Write to Yifan Wang at yifan.wang@wsj.com


(END) Dow Jones Newswires

10-31-22 0138ET