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小摩:料澳门博彩业下半年GGR增13% 看好银河娱乐(00027)等
智通财经网· 2025-08-12 06:43
Core Viewpoint - Morgan Stanley has upgraded its forecast for the Macau gaming industry for the third time in three months, indicating a positive outlook for the sector [1] Company Summaries - Galaxy Entertainment's target price has been raised from HKD 42 to HKD 53, maintaining an "Overweight" rating [1] - MGM China’s target price increased from HKD 15 to HKD 23, also with an "Overweight" rating [1] - Sands China’s target price has been adjusted from HKD 18 to HKD 24.5, retaining an "Overweight" rating [1] - SJM Holdings' target price rose from HKD 2.2 to HKD 3, with a "Neutral" rating [1] - Melco International's target price increased from HKD 2.6 to HKD 4.5, but the rating is "Underweight" [1] Industry Insights - The total gaming revenue (GGR) is projected to grow by 13% in the second half of 2025, with a 4% increase in the first half [1] - Strong cash flow is expected to drive EBITDA growth, with forecasts of a 12% increase in Q3 and a 16% increase in Q4, surpassing market expectations [1] - Continuous positive revisions and normalization of price-to-earnings multiples suggest a potential average stock price increase of approximately 35% for the industry [1]
港股异动丨濠赌股普涨 美高梅中国、金沙中国上涨2%
Ge Long Hui· 2025-08-12 02:58
市场份额方面,该行数据显示银河娱乐的高端中场投注额占比约34%,继续领先同行,反映嘉佩乐酒店 及陈奕迅演唱会对豪赌客的吸引力;而金沙中国以约23%占比维持排行第二。另外,该行亦留意到金 沙、永利澳门、美高梅中国及新濠亦推出不同策略及边注新玩法。(格隆汇) | 代码 | 名称 | 最新价 | 涨跌幅 ▽ | | --- | --- | --- | --- | | 02282 | 美高梅中国 | 16.250 | 2.07% | | 01928 | 金沙中国有限公 | 20.260 | 1.96% | | 03918 | 金界控股 | 4.280 | 1.90% | | 00027 | 银河娱乐 | 40.020 | 1.16% | | 00200 | 新濠国际发展 | 5.060 | 1.00% | | 01128 | 永利澳门 | 6.320 | 0.96% | | 00880 | 澳博控股 | 3.290 | 0.30% | 消息上,花旗发表研究报告指,该行统计8月澳门高端中场博彩投注额按年升5%至1340万港元,高端中 场赌客数量按年跌5%至624名,意味人均投注额按年升10%至21543港元,连续4个月 ...
港股收盘(08.07) | 恒指收涨0.69% 脑机接口概念尾盘急升 苹果概念股全天活跃
智通财经网· 2025-08-07 08:52
智通财经APP获悉,港股今早探底回升,午后涨幅有所扩大,恒生指数成功站上两万五大关。截止收 盘,恒生指数涨0.69%或171点,报25081.63点,全日成交额为2457.48亿港元;恒生国企指数涨0.55%, 报8981.73点;恒生科技指数涨0.26%,报5546.73点。 国泰海通证券指出,年初以来的中国资产重估行情中,港股整体涨幅较A股更为可观,创新药、新消 费、AI应用等方向亮点纷呈。借鉴历史上港股占优行情,该行认为本轮行情或和其中的2012-2014年具 有一定相似性,港股表现强劲源于部分资产更具稀缺性。展望未来,港股稀缺性资产基本面更优,或吸 引南下持续流入,支撑港股继续向上。 蓝筹股表现 至6%,这带来显著的正向经营杠杆、竞争减少和盈利预估的提升。尽管近期表现优异,但如果增长得 以维持,该行认为该行业估值仍偏低。 1. 苹果概念表现亮眼。截至收盘,高伟电子(01415)涨9.62%,报29.86港元;鸿腾精密(06088)涨6.91%, 报3.25港元;舜宇光学(02382)涨3.3%,报76.75港元;蓝思科技(06613)涨2.93%,报21.1港元。 美国当地时间8月6日,苹果公司宣布追 ...
港股异动 博彩股普遍走高 澳门7月博彩收入超预期 行业前景获多家大行唱好
Jin Rong Jie· 2025-08-07 04:09
Group 1 - The core viewpoint of the article highlights a significant increase in Macau's gaming revenue, with July's gross gaming revenue reaching 22.125 billion MOP, a year-on-year increase of 19% [1] - For the first seven months of the year, Macau's total gross gaming revenue amounted to 140.896 billion MOP, reflecting a year-on-year growth of 6.5% [1] - Morgan Stanley has revised its annual growth forecast for Macau's gaming revenue from 5% to 10%, and EBITDA growth forecast from 2% to 6%, indicating strong operational leverage and improved profit estimates [1] Group 2 - HSBC Global Research reported that the 19% year-on-year increase in Macau's gaming revenue exceeded expectations, driven by strong high-end demand [1] - The increase in demand is attributed to a rise in tourism frequency and higher gaming budgets from high-end mid-tier players [1] - Despite a 20% rise in Macau gaming stocks since June, the potential for continued growth into August and beyond, along with low valuations, could further drive stock prices upward [1]
港股异动 | 博彩股普遍走高 澳门7月博彩收入超预期 行业前景获多家大行唱好
智通财经网· 2025-08-07 03:16
Group 1 - The core viewpoint of the article highlights a significant increase in Macau's gaming revenue, with July's gross gaming revenue reaching 22.125 billion MOP, a year-on-year increase of 19% [1] - For the first seven months of the year, Macau's total gross gaming revenue amounted to 140.896 billion MOP, reflecting a year-on-year growth of 6.5% [1] - Morgan Stanley has raised its annual growth forecast for Macau's gaming revenue from 5% to 10%, and EBITDA growth forecast from 2% to 6%, indicating strong operational leverage and improved profitability expectations [1] Group 2 - HSBC Global Research reported that the 19% year-on-year increase in Macau's gaming revenue exceeded expectations, driven by strong high-end demand and increased tourism frequency [1] - The report suggests that the growth momentum is likely to continue into August and the remaining quarters, despite a 20% rise in gaming stocks since June [1] - The industry is characterized by low valuations, which could further drive stock prices upward [1]
博彩股普遍走高 澳门7月博彩收入超预期 行业前景获多家大行唱好
Zhi Tong Cai Jing· 2025-08-07 03:14
Group 1 - The core viewpoint of the article highlights a significant increase in Macau's gaming revenue, with July's gross gaming revenue reaching 22.125 billion MOP, a year-on-year increase of 19% [1] - For the first seven months of the year, Macau's total gross gaming revenue amounted to 140.896 billion MOP, reflecting a year-on-year growth of 6.5% [1] - Morgan Stanley has revised its annual growth forecast for Macau's gaming revenue from 5% to 10%, and EBITDA growth forecast from 2% to 6%, indicating strong operational leverage and improved profit estimates [1] Group 2 - HSBC Global Research reported that the 19% year-on-year increase in Macau's gaming revenue exceeded expectations, driven by strong high-end demand [1] - The increase in demand is attributed to a rise in tourism frequency and higher gaming budgets from high-end players, suggesting sustained demand in the coming months [1] - Despite a 20% rise in Macau gaming stocks since June, there remains potential for growth into August and beyond, supported by low valuations [1]
港股异动丨濠赌股普遍上涨 澳门博彩业强势复苏获机构唱好
Ge Long Hui· 2025-08-07 01:50
摩根士丹利表示,看好经营杠杆与竞争格局改善,预测澳门2025至2027年博彩收入将持续攀升。花旗 指,澳门博彩收入连续第四个月超预期,月内日均达7.14亿澳门元。看好"天王效应"持续,鉴于陈奕迅 8月银河综艺馆演唱会在即,参考此前张学友演唱会带动的积极影响,将8月博彩收入预测从200亿调升 至215亿澳门元(同比增9%)。 港股濠赌股普遍上涨,其中,银河娱乐涨2.4%,澳博控股涨1.8%,金沙中国涨超1%,新濠国际发展、 美高梅中国跟涨。 消息上,7月澳门博彩收入创下疫情后新高,并恢复至疫前约90%水平,强势超出市场预期。根据澳门 统计暨普查局最新资料显示,2025年上半年入境旅客共192.19万人次,按年上升14.9%。业内人士分 析,出境游热度回升及高端大众玩家博彩预算增加成为核心推动力。 | 代码 | 名称 | 最新价 涨跌幅 v | | | --- | --- | --- | --- | | 00027 | 银河娱乐 | 40.880 | 2.40% | | 00880 | 澳博控股 | 3.380 | 1.81% | | 01928 | 金沙中国有限公 | 19.800 | 1.23% | | 00 ...
智通港股解盘 | 市场大炒美联储9月降息 集采内卷强化创新药逻辑
Zhi Tong Cai Jing· 2025-08-05 12:53
Market Overview - US stock indices rebounded, influenced positively by Trump's market support, leading to a 0.68% rise in Hong Kong stocks [1] - San Francisco Fed President Daly indicated that the timing for interest rate cuts is approaching, with expectations for two 25 basis point cuts this year [1] - Goldman Sachs predicts three consecutive 25 basis point cuts starting in September, with a potential 50 basis point cut if unemployment rises further [1] Domestic Market Sentiment - A-share new account openings in July reached 1.96 million, a 71% year-on-year increase, indicating rising domestic confidence [2] - The stock of Upwind New Materials surged 20% after resuming trading, reigniting market enthusiasm [2] - The steel sector saw a significant rise, with Maanshan Iron & Steel's stock increasing over 15% due to improved loss forecasts and supportive policies [2] Industry Trends - The paper industry is experiencing a price increase, with major companies like Nine Dragons Paper and Lee & Man Paper announcing price hikes [2] - The eleventh batch of centralized drug procurement in China saw a record 45 companies applying for the same drug, intensifying competition in the generic drug market [3] - Investment is shifting towards innovative drugs, with companies like Junshi Biosciences seeing stock increases of nearly 34% due to promising clinical trials [3] Financial Support for Key Industries - A joint guideline from the central bank and seven departments aims to support financing for key manufacturing sectors, including integrated circuits and medical equipment [4] - AI-related companies like Longi Green Energy and Lenovo's server business are seeing stock increases due to new orders and market interest [4] Gaming Industry Performance - The domestic gaming market is projected to reach RMB 168 billion in sales by the first half of 2025, a 14.08% year-on-year increase [4] - Heartbeat Games anticipates a revenue increase of approximately 37% for the first half of 2025, driven by strong performance from self-developed games [4] Individual Company Highlights - Tencent's mobile game "Valorant: Source Action" is set to launch on August 19, with projected annual revenue exceeding RMB 6 billion [5] - Oriental Selection's stock surged nearly 17% ahead of its upcoming financial report, reflecting strong market performance [6] - The Macau gaming sector is experiencing a positive trend, with Morgan Stanley raising its revenue growth forecast for the year from 5% to 10% [6] Technological Advancements - Apple's breakthrough in brain-computer interface (BCI) technology allows users to control devices through thought, indicating a significant market opportunity [7] - The Chinese BCI market is expected to exceed RMB 3.8 billion by 2025, with a CAGR of approximately 20% [7] Investment Opportunities - Kelun-Bio has become a top holding in a major fund, indicating strong market confidence in its innovative drug pipeline [8] - The company has established multiple technology platforms and is expected to accelerate commercialization in 2025 [8]
港股异动 | 博彩股普遍走高 澳门7月博彩收入同比增长19% 小摩维持对博彩股乐观看法
智通财经网· 2025-08-05 02:04
Group 1 - The core viewpoint is that Macau's gaming revenue has shown significant recovery, with July's gross gaming revenue reaching 22.125 billion MOP, a year-on-year increase of 19% [1] - For the first seven months of the year, Macau's total gaming revenue reached 140.896 billion MOP, reflecting a year-on-year growth of 6.5% [1] - Morgan Stanley's report indicates that July's gaming revenue growth exceeded market expectations by 6 percentage points, with recovery rates of approximately 90% compared to pre-pandemic levels [1] Group 2 - The strong data from July counters the argument that growth in June was solely driven by a specific event, suggesting a broader improvement in demand since the second quarter [2] - High-end customer segments in VIP and premium mass gaming have been recovering since April, indicating that Macau's recovery may serve as a leading indicator for high-end consumption in China [2] - Two out of three gaming companies that reported second-quarter earnings significantly exceeded expectations, alleviating concerns about increased competition due to promotional activities by Sands China [2]
港股异动丨濠赌股普涨 澳博控股涨超5% 花旗上调澳门8月赌收预测至215亿澳门元
Ge Long Hui· 2025-08-05 01:59
Group 1 - The core viewpoint of the article highlights the significant increase in Macau's gaming revenue, with July's gross gaming revenue (GGR) reaching 22.125 billion MOP, representing a year-on-year growth of 19% [1] - The average daily GGR for July was approximately 714 million MOP, recovering to 90% of the levels seen in the same period of 2019, exceeding both Citigroup's and market expectations of 21 billion MOP by 5% [1] - This marks the fourth consecutive month that Macau's gaming revenue has surpassed expectations, with the industry showing strong resilience as revenue has achieved nearly 20% year-on-year growth for two consecutive months [1] Group 2 - Looking ahead to August, Citigroup has raised its forecast for Macau's gaming revenue from 20 billion MOP to 21.5 billion MOP, reflecting a year-on-year growth of 9% and an average daily revenue of 694 million MOP [1] - This adjustment takes into account the potential lower per capita spending by tourists during the traditional peak travel season, as well as the high base from the same period last year [1] - The article also notes the positive impact of concerts, such as Eason Chan's performance at the Galaxy Arena, which is expected to contribute to the gaming revenue similar to the effect of Jacky Cheung's concert in June and July [1]