The move will also see tour groups being welcomed back to the region as soon as November, which would boost Macau’s economy.
The announcement has piqued market interest in what was once the most lucrative gambling region worldwide, particularly from its neighbour Hong Kong.
Ronald Chan, Founder and Chief Investment Officer at Chartwell Capital in Hong Kong, and a listing committee member of the Hong Kong Stock Exchange sent a note to Gambling Insider about the most recent developments in Macau.
He said: “I think this is a good start. While China continues with the dynamic zero-Covid-19 policy, both Macau and Hong Kong are opening up and introducing their own policies to jumpstart the economy. This, again, showcases the spirit of 'One Country, Two Systems' since the handover.
“At Chartwell, unfortunately, we don’t invest in the casino/gaming sector due to ethical reasons. However, we didn’t want to miss the opportunity in Macau, so we applied our second-level thinking and thought hard about what else will benefit if everyone rushes to this small town – mobile roaming.
“With more visitors to Macau, the top telecom company there will benefit for sure, and so a while back we put money into a company called CITIC Telecom, which trades at low multiples and pays close to 8% dividend yield. We’ve been paid to wait. This is probably one of those overlooked opportunities in the market right now.”
With financial analysts and business managers looking into Macau’s mobile scene, it goes without saying that many investors will be eyeing up a potential entry (or re-entry) into the region’s flagship gambling industry.
