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大行评级|麦格理:濠赌股首选仍为银娱及金沙中国 评级“跑赢大市”

Bank Ratings|Macquarie: Gambling's first choice is still GEG and Sands China's rating to “outperform the market”

Gelonghui Finance ·  Jan 23 14:53
Glonghui, January 23 | According to the Macquarie report, according to estimates from a third-party data provider, the average daily gambling revenue of Macau casinos up to January 21 was MOP 628 million, up 5% weekly. Due to Lunar New Year's Eve, gambling revenue in the last week of this month may slow slightly. Assuming that the average daily gambling revenue for the remaining days of this month is between MOP 550 million and MOP 600 million, the overall gambling revenue for January is between MOP 18.5 billion and MOP 19 billion, reaching 74% to 76% of 2019. The Macau Tourism Board expects the average number of visitors per day during the eight-day Lunar New Year holiday starting February 10 to reach 120,000, an increase of 5% over the recent Christmas holidays. Authorities expect the number of visitors to reach 33 million in 2024, an increase of 17% from 2023, but a 16% decrease from 2019. The bank believes that strong tourist recovery has supported a significant improvement in gambling revenue. The number of visitors increased from the third quarter of 2023 to 90.2% in the fourth quarter of 2023, accounting for 83.5% in 2019. Bank Entertainment and Sands China are still the first choice for this stock market. Due to their extensive inventory of hotel rooms and refurbished facilities, the target prices for both are HK$62 and HK$38.1, respectively, with a rating of “outperforming the market”.

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