This July 11, 2022 photo shows the famous Grand Lisboa, center, in Macao. (KONG / AP)

HONG KONG – Shares in Macao casino operators soared up to 13 percent on Monday after the special administrative region's chief executive said the Chinese mainland would resume an e-visa scheme for mainland travellers and permit group tours, which could likely boost the footfall in the world's biggest gambling hub.

The SAR will aim to open to mainland tour groups in November for the first time in almost three years, Chief Executive Ho Iat-seng said on Saturday.

The SAR will aim to open to mainland tour groups in November for the first time in almost three years, Chief Executive Ho Iat-seng said on Saturday

Macao SAR has implemented stringent COVID-19 pandemic restrictions with tight boundary controls since 2020, resulting in a major impact on its casino industry.

The announcement came earlier than expected, analysts said, who had anticipated such measures to be introduced only early next year.

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"Although it's tough to quantify the immediate benefit, we believe the resumption of e-visas and group tours should alleviate friction for a Macao trip, as well as signal to many that it's okay to visit," said DS Kim, an analyst at JP Morgan in Hong Kong.

Sands China rose more than 13 percent, Wynn Macau climbed 7 percent, Galaxy Entertainment advanced 10 percent while shares of SJM and MGM China jumped 8 percent each.

While the boundary between Macao and the mainland has been open for two years, traffic remained sluggish due to the lack of e-visas, which were readily used by mainland visitors prior to the pandemic to make instant bookings.

Currently, mainland tourists to Macao need to book a visa appointment followed by a week-long approval process. The individual visa scheme accounted for around 50 percent of mainland visitors to Macao in 2019 while tour groups accounted for around 25 percent of visitation.

READ MORE: Macao resumes quarantine-free travel with mainland

In the first phase, the resumption of tour groups will come from five provinces — Guangdong, Shanghai, Zhejiang, Jiangsu and Fujian — which represented almost 60 percent of mainland visits to Macao in 2019.