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《大行》大摩料澳門博彩行業EBITDA按年升7% 高於市場預期
摩根士丹利研究報告指,上週澳門博彩股股價按周升7%,升幅較恆指高6個百分點,反映博彩淨收入(GGR)持續的正面勢頭。經過6月GGR按年升19%、帶動次季GGR升8%後,該行看見市場提高預期,因認爲GGR勢頭將推動收入增長。當中,銀河樂娛(00027.HK)、新濠博亞(MLCO.US)和美高梅中國(02282.HK)的增長最爲顯着,銀娛受惠於市場份額增長,而新濠博亞和美高梅中國獲升評級,因其市場份額得以維持,並沒有如預期般減少。整體而言,該行料行業的物業EBITDA將按年升7%,高於市場預期的4%。 報告提到,7月首6日,累計GGR約爲43億澳門元,按年升19%,或受到過去3場張學友演唱會帶動,預期7月餘下時間會有所放緩;而在6月中張學友演唱會開始前,日均博彩收入介乎6.5億至6.86億澳門元。相較於去年7月日均博彩收入約爲6億元,該行料今年7月亦會有強勁表現。另一方面,5月份的跟團旅客按年跌26%,表映遊客的基數和基礎遊客數量仍不足。不過夜遊客比例上升,以及航空旅客的減少亦影響旅客開支水平。
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