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王富榮先生 (Chris Wong)
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金沙中國 迎接「澳門巴黎人」開幕

Tuesday, July 12, 2016 Views5465

澳門博監局公布,6 月博彩收入為 158.81 億澳門元,按年下跌 8.5%,連跌 25 個月,是 2010 年 9 月以來最低,按月亦下跌13.6%。累計上半年博彩收入 1,077.87 億元,按年跌幅 11.4%,較首五個月輕微收窄 0.5%。 本來澳門特區政府 2016年財政預算案提出全年博彩毛收入為 2,000 億元,平均每月 166 億元,今年上半年的博總彩收入已為預算的全年博彩總收入的53.9%,平均每月收入 179.7 億元。

經濟財政司司長辦公室指,考慮到目前國際及區域的經濟情況較為波動,未來經濟增長不確定性增加的因素,博彩業的調整期可能仍會持續一段時期,今年下半年的博彩毛收入與去年同期相比,仍然保持負增長的可能性較高,但預期下跌的幅度將繼續放緩。

根據現時掌握的情況,今年下半年會有兩個大型的綜合旅遊娛樂項目「永利皇宮」及「澳門巴黎人」落成營運,相信有利提高旅遊市場的吸引力。

金沙中國 01928.HK 旗下路乙水金光大道項目「澳門巴黎人」將於 9月中開幕,項目將與澳門威尼斯人、澳門百利宮,以及擁有康萊德、喜來登及假日 3 間酒店的金沙城中心連接,屆時整個澳門金沙度假區將共提供 1.2萬間酒店客、套房,超過 850 間購物商店及會展設施。

金沙中國 01928.HK 截至今年 3 月底止第一個財政季度業績顯示,金沙中國的總收益淨額按年減 7.9% 至 16.3 億美元。經調整物業EBITDA 按年減 2.5% 至 5.18 億美元,而純利按年減 9.3% 至 3.13 億美元,每股盈利 3.87 美仙。

預期受惠下半年新項目帶將動吸引更多旅客及多個黃金旅遊檔期,每月博彩總收入有望持續按年下跌收窄至低單位數,甚至持平,將對整體賭業股股價帶動支持向上,而金沙中國01928.HK 之新項目亦有望對餘下季績起刺激作用,新項目完工將令其後資本開支大減,以繼續維持現價計超過 7% 息率股息派發。

建議於 $22.6 - $25 收集,目標價重上 $30,止蝕 $21


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