《大行報告》瑞信:澳門1月賭收勝市場預期 首選金沙中國及美高梅中國
瑞信發表研究報告指,澳門1月博彩總收入(GGR)按年增長83%至116億澳門元(下同),勝於市場預期的87億元,惟符合該行預期。按每日計算,博彩總收入按月增長83%至3.74億,是疫情前水平的46%。該行估計,在春節高峰期間,每日博彩收入約為6億元或新冠病毒爆發前水平的六成,而中場博彩總收入在同類基礎上達到新冠病毒爆發前水平的約六至七成。
該行預計,需求將會溫和回升,因為中國確診病例激增可能會抑制旅客情緒,營運商應在1月錄得正數EBITDA。該行相信,復甦步伐仍然是2月及3月的關鍵,這是因為強勁的農曆新年表現可能只是多個暫時性因素推動,會隨著時間的推移而正常化。
該行認為,澳門博彩板塊近期應受到利好消息和博彩總收入持續改善的支持,但隨著上述暫時性因素正常化,行業可能面臨下行風險。隨著中場領導的復甦來臨,金沙中國(01928.HK)和美高梅中國(02282.HK)仍然是該行首選。
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