花旗:仍看好濠賭長遠前景 升美高梅(2282.HK)至“買入”評級
花旗近日發表報告表示,澳門近期過夜訪客近四年以來首度負增長,來自廣東省以外內地旅客明顯下降(料受香港社會事件影響),指十一黃金週表現亦不再「黃金」(料優越中場投注按年跌3%)及貴賓廳表現弱於預期,令該行對澳門今年餘下時間賭收表現轉趨悲觀。

該行表示,下調對澳門今年第四季賭收預測,由原來跌3%下修至按年下滑7%,並估計今年第四季貴賓廳賭收按年下滑23%(此前預測為跌19%),並估計今年第四季中場賭收按年升8%(此前預測為增長12%)。
花旗稱,澳門博彩業短期雖面臨挑戰,但仍看好行業長遠前景,因可受惠即將開通高速鐵路網絡擴至橫琴以及輕軌氹仔線,新酒店及鄰近地區提供更多設施如珠海獅門娛樂天地、珠海橫琴國家地理探險家中心。但該行不預期澳門貴賓廳賭收可於短期及中期復甦。
該行指,上調對澳門2020年中場賭收預測,由原來按年升7%,上調至增長9%,料受惠基建配套改善及珠海新項目落成可提升澳門吸引力,並料澳門2020年賭收將按年下滑2%,但預料濠賭股明年EBITDA有正數增長。
花旗表示,濠賭股中喜愛新濠博亞及美高梅中國(02282.HK) ,決定上調對美高梅中國評級由“中性”升至“買入”,指兩股為行業首選股,因近期可提升市場份額。長遠而言,該行亦喜愛金沙中國(01928.HK)及銀河娛樂(00027.HK)。
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