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高盛普削澳门博彩股目标价 料全年GGR降至2019年3成水平

The target price of Goldman Sachs Macau gaming stock is expected to drop to 30% of the level in 2019 for the whole year GGR.

鳳凰網港股 ·  Sep 16, 2021 09:51

Phoenix New Media Hong Kong stocks | Goldman Sachs Group reported that due to the influence of COVID-19 's epidemic, the trend of GGR (gross gaming revenue) has weakened. Macau gaming stocks fell sharply from July to August, but Macau gaming stocks rebounded by an average of 10% in the past month as the situation improved. However, with the recent report of new DELTA cases in Fujian Province, the government immediately put four regions (all in Putian) on the medium / high risk alert list, coupled with concerns about the risk of licence expiry, Macau gaming stocks were hit hard again. According to media reports, it is estimated that more than 30, 000 people have travelled from Putian to other provinces, raising concerns that the virus could spread more widely.

In response to the low GGR forecast in the third and fourth quarters of this year, Goldman Sachs Group cut his GGR forecast for 2021 to 30 per cent of the 2019 level. The bank believes that if Hong Kong and Macau reopen by the end of the first quarter of 22, GGR is expected to return to 64 per cent in fiscal year 2022.

Goldman Sachs Group cut the EBIDTA forecast of six gaming stocks by 7-153% for the 2021-23 fiscal year, and lowered the target price by 4-14% as a whole. The details are as follows:

Name

Code

Rating

Target price (HK $)

Downward adjustment

SJM Holdings

00880

Be sure to buy

11

6%

MGM China

02282

Neutral

9.7

14.2%

Wynn Macau

01128

Neutral

11.2

11.8%

Galaxy Entertainment

00027

Buy

68.7

3.9%

Sands China

01928

Buy

39

4.9%

Melco International

00200

Buy

18.7

4.1%

The translation is provided by third-party software.


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