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瑞信:料澳門貴賓廳潛在債務或達500億,或影響博企

瑞信發研報指,估計澳門貴賓廳累積結欠的債務或高達500億港元,呼籲濠賭股的投資者有需要留意,並點名過往涉足較多貴賓廳業務的永利澳門(1128.HK)可能面對較多追討個案。瑞信指,市佔率約5至6%的澳門黃金集團,在結業前則完全處理好債務,但倉促停業的太陽城和德晉,料仍未有時間與博企和賭客對賬。在貴賓廳普遍高槓杆營運下,該行估算貴賓廳應付賬款亦高達900億元。瑞信指,由於過往澳門法院曾判決博企在貴賓廳存款的債務上有連帶責任,永利和美高梅中國(2282.HK)都曾有被判須作賠償的案例,因此預期若貴賓廳在結業後出現債務情況,博企或需“上身”引發風險。

瑞信估計,六大博企面對貴賓廳賭客追討的潛在債務風險分別為銀河娛樂(0027.HK)132億港元、永利澳門110億港元、新濠博亞85億元、澳博(0880.HK)68億港元、金沙中國(1958.HK)58億港元和美高梅中國的47億港元。該行選股次序為金沙、銀娛及新濠博亞。

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