惠誉:营收显著回弹 云顶双雄展望升至“稳定”
(吉隆坡23日讯)因主要市场的营业额恢复,国际信评机构惠誉(Fitch)今日确认云顶(GENTING,3182,主板消费产品服务组)和云顶大马(GENM,4715,主板消费产品服务组)的“BBB”的长期外币发行人违约评级(IDR),并把展望从“负面”上调到“稳定”。
惠誉在报告中指出,云顶的独资子公司云顶海外控股(Genting Overseas Holdings Ltd)的信贷评级也是“BBB”级;拉斯维加斯名胜世界(Resorts World Las Vegas LLC)信贷评级则为“BBB-”级,展望都上调到“稳定”。
同时,云顶大马独资子公司云顶纽约(Genting New York LLC)的信贷评级则为“BBB-”级,展望上调到“稳定”。
惠誉表示,大马和美国的业务在冠病风险消退及防疫措施松绑后激励云顶的业绩,显示出博彩领域强劲复苏,是支撑“稳定”前景的主因。
云顶是大马唯一拥有合法赌牌的公司,而且有本地游客及新加坡的市占率所支撑。
同时,该公司博彩业务分散在美国和英国;也有棕油和能源的非博彩业务带来现金流。
惠誉说:“由一些外国旅客和新的云顶天城世界主题乐园所带动,我们预计大马市场的营业额,今年内将恢复到2019年疫情之前的75%,明年恢复到95%。疫情前,大马业务贡献云顶35%营业额。”
不过,新加坡业务的营业额贡献,将保持低过2019年的贡献35%,明年则将低过2019年的贡献10%,要到2024年,才恢复到2019年的水平。
疫情前,新加坡业务为云顶贡献35%营业额。尽管新加坡4月1日已重开国门,但次季旅客人数仍然比疫情之前低,次季年度化后的营业额也仅达2019年的55%。
国际航线有限,加上机票昂贵限制新加坡的游客人数。惠誉预计,游客人数会在未来2年才逐渐恢复上扬。
由于新加坡次季上调博彩税,该公司的营运盈利赚幅恐怕不会在未来3年内恢复到疫情之前。
另外,尽管拉斯维加斯名胜世界面对成熟市场的竞争,但该项目为拉斯维加斯10年来第一个新的大型计划,所以预料将从中受惠。惠誉相信,更多游客,未来2年内将激励营业额和营运盈利走高;次季时,拉斯维加斯名胜世界的酒店入住率达90%。
https://www.sinchew.com.my/20220923/%E6%83%A0%E8%AA%89%EF%BC%9A%E8%90%A5%E6%94%B6%E6%98%BE%E8%91%97%E5%9B%9E%E5%BC%B9-%E4%BA%91%E9%A1%B6%E5%8F%8C%E9%9B%84%E5%B1%95%E6%9C%9B%E5%8D%87%E8%87%B3%E7%A8%B3%E5%AE%9A/
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