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《大行報告》大摩:賭場面臨停運半月 料賭股業績受損 6月前盈利透明度有限
阿思達克 02-04 15:56

摩根士丹利發表報告表示,澳門政府公布決定暫停當地賭場營運14天,以防止肺炎在當地蔓延,相信消息對澳門博彩營運商影響明顯負面。

該行指,不單止會下調對澳門今年首季賭收預測,基於營運商需要負擔固定成本,相信會令營運商業績受損,估計證券同業將調低濠賭股盈利預測,相信濠賭股至今年6月前月度賭收透明度已變得有限。

但從正面角度而言,澳門賭場停運逾14天,若疫情至夏天能正常化,料不會影響澳門今年下半年賭收。該行指,濠賭股股價雖已回落,但現估值相當預測今年企業價值對EBITDA的10倍,參考以往歷史,濠賭股在艱難時刻時其業價值對EBITDA回落至8倍水平。

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