5月6日，港股午后震荡上行。不过，恒生科技指数尾盘回落。截至收盘，恒指涨0.7%，报22662.71点；恒生国企指数指涨0.37%，报8261.61点；恒生科技 指数跌0.09%，报5239.5点。全日大市成交额为2133.68亿港元，南向资金净买入额为134.75亿港元。 个股方面，农夫山泉涨7.07%，周大福涨5.65%，美团-W涨4.53%；石药集团跌5.96%，药明生物跌3.53%，药明康德跌3.18%。 【导读】5月6日，香港证监会与香港交易所正式推出"科企专线" 中国基金报记者 吴娟娟 博彩股上涨 5月6日，港股博彩股多上涨，美高梅中国涨7.38%，金沙中国涨5.35%，永利澳门涨4.64%。 消息面上，澳门特区政府治安警察局5月6日公布的数据显示，5月1日至5月5日，澳门各口岸共有375.4万人次出入境，其中入境访澳旅客超过85万人次， 日均达17万人次。从口岸来看，访澳旅客主要经关闸口岸入境，其次为港珠澳大桥和横琴口岸等。 此外，澳门博彩监察协调局公布的数据显示，2025年4月，澳门博彩毛收入为188.5亿澳门元，同比增幅为1.7%，环比减少4.07%。澳门今年前4个月博彩毛 收入累计为765 ...

今年五一假期国内出游人次/出游总花费分别同比增长6 . 4%/ 8 . 0%，旅游市场供需两旺、景气度高 涨，人均消费同比改善，长线游、县域游、出入境游呈现结构性亮点。景区客流整体强劲、多景区 创历史同期新高，酒店量价齐升、需求档次升级趋势明显，澳门客流大超预期利好博彩业。展望 2 0 2 5年，我们预计休闲旅游景气度延续的确定性较高，中长期来看，我们看好服务业消费占比提 升、体验性消费需求的持续增长。推荐配置消费景气度回升下具备高弹性的餐饮板块，顺周期有望 逐步迎来经营拐点的酒店、人力资源板块，以及景区、博彩、OTA（在线旅行社）中的优质个 股，免税板块继续关注数据趋势。 ▍ 总览：旅游市场景气度高，人均消费同比改善。 受出行意愿旺盛、拼假人数提升、天气优于去年同期（尤其前半程）等因素带动，2 0 2 5年五一假 期旅游市场供需两旺、景气度高涨。根据文旅部数据，今年五一假期（5月1日- 5日，下同）全国 国内出游3 . 1 4亿人次，同比增长6 . 4%（今年春节/清明为增长5 . 9%/ 6 . 3%），国内游客出游总花 费1 8 0 2 . 6 9亿元，同比增长8 . 0%（今年春节/清明为增长7 . ...

· 2025 年 5 月 6 日 国都港股操作导航 | 海外市场重要指数 | 收市 | 幅度 | | --- | --- | --- | | 道琼斯工业指数 | 41,218.83 | -0.24% | | 标普 500 指数 | 5,650.38 | -0.64% | | 纳斯达克综合指数 | 17,844.24 | -0.74% | | 英国富时 100 指数 | 8,596.35 | 1.17% | | 德国 DAX 指数 | 23,344.54 | 1.12% | | 日经 225 指数 | 36,830.69 | 1.04% | | 台湾加权指数 | 20,532.99 | -1.23% | | 内地股市 | | | | 上证指数 | 3,279.03 | -0.23% | | 深证成指 | 9,899.82 | 0.51% | | 香港股市 | | | | 恒生指数 | 22,504.68 | 1.74% | | 国企指数 | 8,231.04 | 1.92% | | 红筹指数 | 3,788.06 | 0.47% | | 恒生科技指数 | 5,244.06 | 3.08% | | AH 股溢价指 ...

出行链五一情况汇总&海外季报亮点 20250505 摘要 根据现有数据，2025 年五一假期前三天，全社会跨区域人员流动实现了稳定 增长，增长率约为 5%。假期首日的增长率达到了 8%。在交通方式方面，铁路 和民航的日均客流量同比增长分别为 11.5%和 11.2%，相比春节期间铁路和 民航的同比增长率 6.1%和 7.4%，五一期间跨省人员流动数量显著增加了 54%至 5 个百分点。这表明今年五一出行热度较高，尽管最终数据尚未公布， 但从交通数据来看，出行人数仍然强劲。 2025 年五一假期的天气状况对旅游业有什么影响？ 2025 年五一假期全国天气呈现前期寒冷后期回暖的趋势。假期前几天整体天 气较好，但 4 号和 5 号部分地区出现南方强降雨、北方大风沙尘等极端天气， 这可能影响回程航班。去年（2024 年）五一假期整体天气较好，仅长白山有 • 澳门博彩业收入同比增长，酒店入住率高，短途家庭游、亲子游等产品受 欢迎，维持对澳门博彩板块推荐，看好金沙中国和银河娱乐，预计全年总 毛收入将同比增长 3%。 • Booking 一季度财报显示全球旅游需求稳定，订单量和 EBITDA 增长，公 司扩大全年指引范围， ...

Financial Data and Key Metrics Changes - The company reported total revenue of $344 million for Q1 2025, marking a 7% year-over-year increase, which is the highest quarterly revenue since going public [5] - Adjusted EBITDA for the same period was $50 million, also reflecting a 7% year-over-year growth [5] - Capital expenditures for Q1 were $27 million, with a full-year CapEx forecast of $75 million to $80 million [19][20] Business Line Data and Key Metrics Changes - Revenue growth was particularly strong in Illinois and Montana, with year-over-year increases of 48% in both states [5][6] - Revenue per location in core states showed varied performance: Illinois at $885 per day (up 2.9%), Montana at $610 per day (up 2.7%), and Nevada at $802 per day (down 5.3%) [18] Market Data and Key Metrics Changes - Nebraska and Georgia experienced strong double-digit revenue growth, albeit from a smaller base [6] - The company has integrated operations in Louisiana, adding 96 locations and 614 terminals, which is expected to drive future revenue growth [7][8] Company Strategy and Development Direction - The company continues to focus on a decentralized gaming model, which allows for flexibility and efficient capital allocation based on local demand trends [9][10] - The acquisition of Kucan Gaming is expected to enhance the company's southeastern market presence and operational synergies [6][8] - The opening of Fairmont Park Casino is seen as a significant growth driver, with plans for further development in the future [11][12] Management's Comments on Operating Environment and Future Outlook - Management expressed confidence in the company's ability to scale proprietary products and services across its national footprint, enhancing financial performance and free cash flow [10][21] - The company remains optimistic about consumer demand and does not anticipate significant impacts from tariffs on its existing business [27][28] Other Important Information - The company announced the departure of CFO Matt Ellis, with Mark Phelan stepping in as acting CFO [14][15] - The company is committed to returning capital to shareholders through share repurchases, having repurchased 1 million shares at an average price of $10.34 per share [20] Q&A Session Summary Question: Impact of tariffs on growth and CapEx - Management indicated that most CapEx prices are locked in, minimizing the impact of tariffs on existing business [27][28] Question: Weather impact on performance - Weather was reported as a neutral factor, with no significant negative impact on consumer behavior [30][31] Question: Strategy for underperforming locations - The company continues to prune underperforming locations to optimize profitability and reallocate resources to better-performing areas [35][36] Question: Update on Louisiana's performance - Early indications from Louisiana are positive, with ongoing remodeling and optimization efforts expected to enhance performance [38][39] Question: Timing and next steps for Phase two of Fairmont - Phase two will be informed by the operational performance of Phase one, with clarity expected after the racing season ends in October [47] Question: CapEx expectations for 2025 - The company reiterated its CapEx expectations of $75 million to $80 million for 2025, with a return to normalized levels of $40 million to $45 million thereafter [50][51]

Financial Data and Key Metrics Changes - The company reported total revenue of $344 million for Q1 2025, marking a 7% year-over-year increase, and adjusted EBITDA of $50 million, also a 7% increase year-over-year [5][15] - As of March 31, the company had 27,180 terminals across 4,391 locations, reflecting year-over-year increases of 4.4% and 2.9% respectively [15] Business Line Data and Key Metrics Changes - Revenue growth was particularly strong in Illinois and Montana, with year-over-year increases of 48% in Illinois and 48% in Montana [6] - Revenue per location in core states showed varied performance: Illinois at $885 per day (up 2.9%), Montana at $610 per day (up 2.7%), Nevada at $802 per day (down 5.3%), Louisiana at $972 per day, Nebraska at $263 per day (up 12.9%), and Georgia at $145 per day (up 59.3%) [16] Market Data and Key Metrics Changes - Nebraska and Georgia continued to show strong double-digit revenue growth, while Nevada experienced a slight revenue decline due to the loss of a key customer [6] - The company has completed the integration of operations in Louisiana, which is expected to generate revenue growth opportunities [6] Company Strategy and Development Direction - The company aims to drive further synergies and performance improvements through the integration of acquired operations and the rollout of proprietary products across its national footprint [7][9] - The decentralized gaming model allows the company to efficiently allocate capital based on local demand trends, differentiating it from larger operators [8] Management's Comments on Operating Environment and Future Outlook - Management expressed confidence in the continued strength of consumer demand and the company's ability to scale operations effectively [25][29] - The company remains focused on generating organic revenue growth with expanding margins and improved free cash flow [19] Other Important Information - The Fairmont Park Casino opened on April 18, 2025, marking a significant milestone for the company [10] - The company announced the departure of CFO Matt Ellis, with Mark Phelan stepping in as acting CFO [13][14] Q&A Session Summary Question: Impact of tariffs on growth and CapEx - Management indicated that most CapEx for the year has locked in prices, minimizing tariff impacts, and noted strong consumer demand [24][25] Question: Weather impact on performance - Weather was reported as a neutral factor, with no significant negative impact on consumer behavior [28][29] Question: Strategy for underperforming locations - The company continues to prune underperforming locations to optimize profitability and reallocate assets to better-performing situations [32][33] Question: Update on Louisiana's performance - Early trends in Louisiana are positive, with ongoing remodeling and optimization efforts expected to enhance performance [35][36] Question: Timing and next steps for Fairmont Phase two - Phase two will be informed by the operational performance of Phase one, with clarity expected after the racing season ends in October [45] Question: CapEx expectations for 2025 - The company reiterated its CapEx forecast of $75 million to $80 million for 2025, with expectations of returning to normalized levels of $40 million to $45 million thereafter [48][49]

拉斯维加斯著名赌场酒店"贝拉吉奥"的赌桌 编者按：特朗普政权诞生的美国。尽管社会上弥漫着对现状的愤怒和不满，经济却处于巅峰状态，超级 大国的地位依然稳固。美国的强大与脆弱究竟源自何处？ 这里进行的是经典赌场游戏"百家乐"，在这间VIP小房间里，最低下注额高达1000美元（约15万日 元），是普通赌桌的100倍以上。当晚，每桌单次最高下注额达5000美元（约75万日元）。一个房间里 一晚的资金流动就能达到数亿日元的规模。 尽管赌场对高额投注者的采访有限制，但一名20多岁的韩国男子在匿名的条件下接受了采访。他兴奋地 表示："一晚大概会花费20万美元（约3000万日元）"。赌场酒店的主要收入中，约50%来自赌场业务， 而这些高额投注者正是其主要支柱。 图为"贝拉吉奥"大酒店著名的喷泉表演 然而，如今高额投注者的客群正在发生变化。 "过去，高额投注者大多是中国游客，但现在从中国客户那里获取资金变得困难"， 在另一家著名赌场 酒店"凯撒宫"（Caesars Palace）工作了20年的赌场经理布莱恩·罗杰斯（52岁）表示。 如今，填补中国游客减少的，是居住在美国的越南裔等亚洲族群。不仅是高额投注者，一般赌场游客的 客源 ...

机构评级方面，目前暂无机构对该股做出投资评级建议。 行业估值方面，黄金及贵金属行业市盈率（TTM）平均值为23.31倍，行业中值19.98倍。胜龙国际市盈 率146.19倍，行业排名第12位；其他龙资源（01712.HK）为7.06倍、紫金矿业（02899.HK）为11.81 倍、灵宝黄金（03330.HK）为14.68倍、港银控股（08162.HK）为16.1倍、大唐黄金（08299.HK）为 19.27倍。 资料显示，胜龙国际控股有限公司是一家专注管理服务供应商。本公司于百慕达注册成立,在香港联合 交易所上市(股份代号:1182),总部设于香港,并在澳门设立办事处。公司的愿景是让公司的联约伙伴取得 成功,为他们的顾客体验提供优质的服务,而公司的使命是成为顶尖的博彩运营管理及有关资讯科技服务 的供货商,提高公司的股东投资价值,制造增长。 大事提醒 2025年4月23日，公司以每股0.62港元回购6万股,回购金额3.72万港元 4月30日，截至港股收盘，恒生指数上涨0.51%，报22119.41点。胜龙国际（01182.HK）收报0.63港元/ 股，上涨23.53%，成交量33万股，成交额18.57万港元，振 ...

拉斯维加斯著名赌场 "过去，高额投注者大多是中国游客，但现在从中国客户那里获取资金变得困难"，在中国游客减 少的这10年间，东南亚的中产阶层迅速壮大，带动了赌场热潮。过去20年，拉斯维加斯的人口和 国内生产总值均增长了近两倍…… 编者按： 特 朗普政权诞生的美国。尽管社会上弥漫着对现状的愤怒和不满，经济却处于巅峰状 态，超级大国的地位依然稳固。美国的强大与脆弱究竟源自何处？《日本经济新闻》美国当地记 者报道那些日常新闻中未曾展现的 " 真实美国 " 。本栏目不定期刊登。 酒店"贝拉吉奥"的赌桌 在拉斯维加斯市中心的著名赌场酒店"贝拉吉奥"内，有一间专门供"高额投注者"（High Roller）使 用的房间。这些客人是赌场中豪赌的常客。房间大小类似于小型宴会厅，空气中弥漫着淡淡的烟 草味，六张赌桌整齐摆放着，几位穿着休闲的亚洲顾客一边饮酒，一边静静地享受游戏的乐趣。 这里进行的是经典赌场游戏"百家乐"，在这间VIP小房间里，最低下注额高达1000美元（约15万 日元），是普通赌桌的100倍以上。当晚，每桌单次最高下注额达5000美元（约75万日元）。一 个房间里一晚的资金流动就能达到数亿日元的规模。 尽管赌场对 ...