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 ·  Feb 20 13:46
Glonghui, Feb. 20 | Macquarie published a report stating that according to third-party data forecasts, Macau's average daily gambling revenue from February 5 to 18 was MOP 714 million, 14% higher than MOP 625 million on the first 4 days of February, mainly due to the strong number of visitors during the Spring Festival. Assuming that the remaining days of February were affected by factors after the Spring Festival, the average daily gambling revenue reached 550 million to MOP 600 million, a decrease of 16% to 23% from February 5 to 18, and total gambling revenue in February returned to 73% to 75% of 2019 levels. As for the Macau government, it maintains its forecast for this year's gambling revenue of MOP 216 billion, which is equivalent to about 74% of 2019's level and about 62% of last year's level, but it is lower than the bank's forecast of MOP 231 billion. The bank mentioned that on this year's Spring Festival Golden Week, the average number of mainland visitors returned to 101% of pre-epidemic levels. The total number of daily inbound visitors reached about 170,000, 41% higher than the 120,000 expected by the Macau Tourism Administration, and 47% higher than last year's National Day Golden Week. Among Hao Gaming stocks, the bank's first choice is still GEG and Sands China, believing that they have strong real estate reserves and abundant hotel room inventory, and are rated as “outperforming the market.”

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