《大行报告》瑞信:银娱(00027.HK)上季业绩稍胜预期 对行业看法仍审慎
瑞信发表报告指,银娱(00027.HK)去年第四季业绩稍胜预期,EBITDA为10.1亿元,高於市场及该行预期的分别9.15亿元及9.02亿元,扭转第三季录得9.43亿元的LBITDA。
该行表示,对澳门赌业看法仍然审慎,虽然进一步开放边境可在短期内保持建设性,疫苗开始广泛接种亦有助重新带动澳门的休闲游客,不过资金流、监管挑战(新修订的针对跨境赌博活动法例於3月1日生效),及贵宾厅系统受损等料将阻碍复苏。
瑞信维持银娱股份目标价54元及「中性」评级。该行认为,即使行业面对挑战,但集团的长期故事保持不变,包括有稳定及良好的管理团队;周全的产品,包括将落成的澳门银河3期和4期;及海外扩张提供全方位增长。
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