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ISSUE 118 - Feb 2014
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Morgan Stanley likes casino stocks in medium term

Posted: 10/29/2013 12:06:17 PM
Rating:     0% ( votes)

Morgan Stanley says Macau casino stocks will continue to provide good returns to investors – at least in the medium term.

The investment bank says in a note to investors that consensus casino revenue forecasts for next year are not very high.

It suggests that casino stocks should see forward earnings before interest, tax, depreciation and amortisation of 16 times price.

But there is increasing uncertainty for casino stocks in the longer term. It says the lack of new casinos in the next two years, the limit on live gaming tables, uncertainty about the renewal of the licences of the six casino operators and the shift to mass-market gaming may affect earnings.

Other Macau Latest News

Studio City opening date to be announced next week

Announcement will accompany release of Melco Crown’s Q2 financial results

Broker raises forecast of July gaming revenue drop

Sterne Agee CRT now predicts Macau’s casinos will take in about MOP18.4 bln

Hengqin to be less choosy about Macau investment

Authorities to cut to 90 the number of fields closed to Macau investors

Govt to present vehicle tax law amendments in Q3

Official says bill would remove exemption of tourist vehicles from tax

Chief Executive says welfare measures sacrosanct

Fernando Chui seeks to reassure public about any cuts in govt spending

Jobless rate steady in trimester ended June

Gaming and construction have fewer employees, but hotel workforce grows

Economy secretary floats govt spending cut balloon

Says gaming takings may be under MOP18 bln, triggering fiscal austerity

Operator to announce Studio City opening date soon

Melco Crown Entertainment boss says the resort is coming along smoothly

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