《大行报告》瑞银:银娱(00027.HK)和澳博(00880.HK)升级至「买入」
瑞银发表研究报告,降今明两年澳门赌收预期14%至20%,以反映对今年至今赌收逊预期的表现、通关预期延迟,但相信中场复苏的动力仍然存在,主要由积压需求、新酒店供应等带动。行业股份由3月中高位至今已跌18%,受累近期广东疫情,但风险回报率变得吸引,调升银娱(00027.HK)和澳博(00880.HK)评级至「买入」,首选金沙(01928.HK)、银娱、澳博与新濠。
该行指,5月假期表现稳健,认为澳门温和复苏是取决於通关与否,近期广东的疫情应只是短期因素,一旦澳门与香港的关口重开,相信可带动中场有15%至20%复苏。因应香港与澳门的接种率正上升,料将有助两地关口重开。
该行又指,若中港澳可於第四季完全重开,预期至明年,中场赌收可回复至2019年水平,贵宾厅则可至60%,低於之前预测分别回复至110%及77%;该行同时下调今明两年EBITDA预期分别32%及12%。
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