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《大行報告》花旗:股價下跌為買入高質素澳門賭業股機會 首選銀娛(00027.HK)
花旗發表研究報告指出,澳門於8月份修訂《金融體系法律制度》,將於11月1日起生送效,旨在優化金融體系,涉及金融機構包括銀行、兌換店、保險和再保險公司等。然而,該法案不是規範賭場博彩業的法律。 GGR Asia報道將澳門《金融體系法律制度》與非法「換錢」活動聯繫起來,強調目前違法者將可能被罰款,但如澳門政府決定將該類非法活動定為刑事犯罪,違法者有機會被判入獄。澳門博彩業顧問Ben Lee表示,在與各利益相關者交談後,預期非法「換錢」交易佔年度賭收的50%至60%,任何對該類事件的打擊,將對澳門賭收產生重大影響。 不過,花旗認為澳門博彩業顧問的觀點並不能解讀為澳門政府的意圖,因澳門目前博彩收入的日均收入約為5.5億澳門元,當中60%約為3.3億澳門元。假設中場贏率約20%,意味著博彩量可高達每日約16.5億澳門元,而以兌換店或「換錢黨」的規模,難以每日提供約16.5億澳門元的博彩資本。有關「年度賭收的50%至60%」言論完全忽略了資金從離岸銀行帳戶到澳門賭場100%的合法匯出情況。 此外,該行指有關消息導致澳門濠賭股下跌,同時為投資者創造買入高質素澳門賭業股機會。該行基於黃金周澳門酒店客房預訂量穩定,以及前所未有的活動和音樂會陣容,相信將增加博彩和非博彩收入,維持看好澳門濠賭股的立場,偏好依次為銀娛(00027.HK)、金沙中國(01928.HK)、美高梅中國(02282.HK)及新濠博亞(MLCO.US)、永利澳門(01128.HK)及澳博控股(00880.HK)。
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