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《大行報告》裏昂料內地舉行冬奧後 澳門明年第二季賭收才明顯復甦 指賭股估值吸引
裏昂發表報告表示,料澳門博彩業今年第三季持續面臨挑戰,季內業績已預期走弱,市場期望亦低,而該行估計今年第四季及明年首季仍會放緩。而該行估計在北京舉行冬奧(2022年2月4日至20日)之後,澳門至明年第二季賭收纔有望錄顯着回升。 該行指,澳門博彩營運商經歷疲弱的10月「黃金週」後,對今年第四季前景不算太過樂觀。該行估計在北京完成舉行冬奧之後,內地與澳門及香港特區纔會全面通關,部份營運商料港澳個人遊(「自由行」)至於2022年下半年才放鬆。 裏昂表示,就市場關澳門賭牌招標是否需要延期,各方意見不一,但所有運營商都對政府參與的意願感到鼓舞,該行期望招標過程可快速進行,並且仍然期望可按時完成。 該行指,濠賭股目前估值相當預測2023年EBITDA的11.3倍,對比長期平均值14.8倍,認爲估值有吸引力,重申銀河娛樂(00027.HK)「買入」評級及目標價53.34元,維持美高梅中國(02282.HK)「買入」評級及目標價7.99元。
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