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麥格理:料今年濠賭股EBITDA續穩定 明年中場賭收增長或未足以帶動重評
格隆匯 12-18 15:01

麥格理髮表研究報告,指濠賭股於2020有新景象,雖然經濟仍有不穩定因素,但相信新的設施和基建,都有助長遠增長,及支持明年賭收增長。

該行指,賭股於今年下跌,估值低於10年平均數字,受貿易戰和貴賓廳下跌影響,預期行業EBITDA於今年增長只有約2.5%,賭收跌3.5%。而明年,相信賭收可以有1.9%增長,EBITDA升3.5%,雖然貴賓廳預期下跌10%,但目前中場佔EBITDA比例達85%,而預期明年中場為升9%,加上新的基建發展,相信可以維持信心。

該行指,明年中場的賭收增長或未必足以引致賭股重估,而投資者持續擔心宏觀經濟影響貴賓廳收入,最終會蔓延至中場。而部份酒店的開業延至年尾或2021年,但相信可以成為催化劑。

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