富瑞:博彩股合理估值可能下跌最少30%
富瑞發表研究報告指,澳門賭場重開後,博彩毛收入和到訪量均低於該行預期,如果年中前仍明顯低於基準預估,即預計博彩日均毛收入3月份為2.99億澳門元、二季度為5.54億澳門元,博彩股合理估值可能會下跌30%或更多,跌幅最大的將會是永利澳門(1128.HK)和銀河娛樂(0027.HK)。
該行續指,預期未來博彩股的股價及盈利持續受壓,因現時澳門賭場重開後,博彩收入和旅客量亦持續走軟,料未來博彩毛收入維持走軟。
富瑞又指,基準預估為博彩日均毛收入3月份為2.99億澳門元,第二季為5.54億澳門元,鑑於簽證和旅行限制仍在繼續實施,上述基準預測可能顯得過於進取。扣除15天的暫停營業,2月份的日均博彩毛收入可能僅2.06億澳門元。
該行表示,預期金沙中國(1928.HK)股息下調的風險最大,料金沙中國今年資本開支將會上升至8.75億美元,但長遠仍看好金沙中國和美高梅中國(2282.HK)。
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