Glonghui, May 16, 丨 Da Mo published a rating report saying that since 2020, the first quarterly EBITDA for the Australian Open (0880.HK) was corrected, recording 31 million yuan, but only 3% of the level of the first quarter of 2019, lower than market expectations of 148 million yuan, and net loss narrowed 72% month-on-month to 869 million yuan. According to the bank, midfield gambling revenue in May reached 110% of the 2019 level, and after deducting the Shanghai Lisboa (GLP), it has returned to 90% of the 2019 level. The bank gave it a target price of HK$3.5, maintaining a “reduced holdings” rating. The stock is currently reported at HK$3.65, with a total market value of HK$25.9 billion.