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《大行报告》美银美林:澳门第三季中场赌收升17% 赌股盈利前景稳固
阿思达克 10-17 14:55

美银美林发表报告表示,澳门博监公布今年第三季贵宾厅及中场赌收表现,期内贵宾厅赌收按年下滑22.5%(按季跌10%),总体中场赌收按年升17%(按季增长2.5%)。该行指,经调整由贵宾厅转至中场重新分类的影响後,料中场赌收仍然巩固,录按年增长11.7%,而经调整後贵宾厅赌收则按年跌21.8%(按季跌10.2%)。

该行认为,第三季贵宾厅赌股按季下滑,主要自7月份太阳城争议事件的影响所致,至9月贵宾厅转码数已见回稳。

按该行渠道了解,金沙中国(01928.HK)、美高梅中国(02282.HK)及新濠博亚於第三季提升0.2%、0.5%及1.4%市场份额,而澳博(00880.HK)、银娱(00027.HK)及永利澳门(01128.HK)则各流失市场份额0.3%、0.7%及1.2%。

美银美林认为,濠赌股盈利前景稳固,可受惠於中场赌收双位数字增长,虽然行业受到香港事件影响。该行料濠赌股今年第三季物业EBITDA录24亿美元,按季下滑4%(但按年升5%)。该行指濠赌股自中美爆发贸易战後在区间水平上落,行业目前处於区间底部(估值相当预测2020年企业价值对EBITDA的10.4倍),低於长期平均值21%。

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