瑞信:上調濠賭股評級至跑贏大市,首選金沙中國
瑞信發表研究報吿,指澳門濠賭股的風險回報轉向正面,主要由於監管力度較預期輕,而香港與澳門的重新通關為目前的賭收提供顯著上行空間,以及估值不高。假設濠賭股恢復至疫情前水平,該行預期2023及2024年底分別將有33%及20%的複合回報。
此外,該行認為澳門《博彩法》諮詢結果最早將於12月中旬發佈,另料香港與澳門可能於12月起重新通關,都為博彩業帶來與以往不同的催化劑,估計12月的賭收將更為強勁。雖然預期貴賓廳市場將有所萎縮,但隨着放寬旅行限制,料2022財年下半年將大規模復甦。該行預期,至2023年貴賓廳賭收將恢復至2019年水平的52%(此前預期為51%),而屆時中場恢復至2019年的95%水平(此前預期為85%)。
該行將整個博彩業的2023財年EBITDA預測上調11%至26%,目標價升介乎34%至117%,並上調金沙中國(1928.HK)、澳博控股(0880.HK)、永利澳門(1128.HK)、銀河娛樂(0027.HK)、新濠博亞娛樂(MLCO.US) 、新濠國際發展(0200.HK)及美高梅中國(2282.HK)至“跑贏大市”評級,另上調新濠影匯(MSC.US),當中首選金沙。
Follow us
Find us on
Facebook,
Twitter ,
Instagram, and
YouTube or frequent updates on all things investing.Have a financial topic you would like to discuss? Head over to the
uSMART Community to share your thoughts and insights about the market! Click the picture below to download and explore uSMART app!

Disclaimers
uSmart Securities Limited (“uSmart”) is based on its internal research and public third party information in preparation of this article. Although uSmart uses its best endeavours to ensure the content of this article is accurate, uSmart does not guarantee the accuracy, timeliness or completeness of the information of this article and is not responsible for any views/opinions/comments in this article. Opinions, forecasts and estimations reflect uSmart’s assessment as of the date of this article and are subject to change. uSmart has no obligation to notify you or anyone of any such changes. You must make independent analysis and judgment on any matters involved in this article. uSmart and any directors, officers, employees or agents of uSmart will not be liable for any loss or damage suffered by any person in reliance on any representation or omission in the content of this article. The content of this article is for reference only. It does not constitute an offer, solicitation, recommendation, opinion or guarantee of any securities, financial products or instruments.The content of the article is for reference only and does not constitute any offer, solicitation, recommendation, opinion or guarantee of any securities, virtual assets, financial products or instruments. Regulatory authorities may restrict the trading of virtual asset-related ETFs to only investors who meet specified requirements.
Investment involves risks and the value and income from securities may rise or fall. Past performance is not indicative of future performance.