Macau has lowered the mandatory quarantine for non-mainland tourists from 10 to 7 days. These new measures will be in effect on Saturday, August 6, as confirmed by the Novel Coronavirus Response and Coordination Centre of the city.
Travelers Must Have a Negative Quarantine Test on Arrival
Just as before, in order to qualify for the 7-day quarantine, travelers will need to test negative for COVID-19 on arrival. If the test comes back positive, they will be put into isolation in a medical facility.
After the 7-day quarantine, travelers will have to pass the “self-management” 3-day period in which they need to monitor their health and make sure that they do not develop any symptoms.
During this time, their e-health code will be yellow and they won’t be able to enter offices, leisure facilities, and restaurants. Moreover, the new protocol will apply to anyone that has been to Taiwan, Hong Kong or overseas 10 days before arriving in Macau.
These new measures are the result of Macau’s stabilization period after the special administrative region had the biggest COVID-19 outbreak since the start of the pandemic. The outbreak started on June 18 and it imposed stricter rules concerning traveling to or out of mainland China.
Additionally, Macau’s Official Gazette confirmed on Tuesday that Ho Iat Seng, the chief executive of the city ordered the state of immediate prevention related to the pandemic’s countermeasures, to end.
Macau’s Casino Stocks Tumbled in the Peak of the Outbreak
At the end of June, the outbreak, which led to numerous new restrictions was also devastating for the casino industry in Macau. The stocks of all of the concessionaires in the region dropped down and shareholders lost a lot of value.
Wynn Macau recorded a 3.3% drop, SJM Holdings reported a 3.1% drop, MGM China and Sands China reported a 2% drop, while Galaxy Entertainment’s stocks dropped by around 1%. After the biggest restrictions were cut and patrons were welcomed back, a massive recovery went underway.
Due to the restrictions, Macau’s casinos suffered as the gross gaming revenue for July 2022 was just $49 million. The drop in revenue was the lowest since 2009 according to the Gaming Inspection & Coordination Bureau. Additionally, the revenue was 98% lower than in the pre-pandemic era.
This downturn led to Macau losing its top gambling hub title to Las Vegas and China’s zero-COVID policy makes things even harder. Vitaly Umansky, an analyst at Sanford C. Bernstein, stated that it’s unclear whether China’s government will do something about the zero-COVID policy.
In a note, Credit Suisse analysts stated that even if the border with China reopens, the process of recovery will be slow as it will take time to rebuild confidence among customers.