Casino shares gain on hopes for renewed tourism in Macau

Shares of casino companies operating in Macau rose on Monday after the city’s government said it would ease restrictions for visitors from mainland China, boosting hopes for an accelerated recovery in the tourism-dependent economy from the city.

The casino sector’s gains came after it was announced over the weekend that Macau plans to resume issuing e-visas and allowing Chinese groups to visit the gambling hub from the end of October. Analysts said the timing could facilitate a faster-than-expected return of Chinese visitors to Macau.