I-China isandula ukukhulula umgaqo-nkqubo wayo ongqongqo we-COVID we-zero.Nangona kunjalo, umgaqo-nkqubo ubonakala unika abaqhubi bekhasino beMacau intlawulo ekhawulezileyo, esele ikholelwa ukuba inenzuzo.
Abaxhamli abathandathu kulindeleke ukuba bathumele i-deficit kwi-EBITDA (ingeniso phambi kwenzala, irhafu, ukuhla kwexabiso kunye ne-amortization) kwikota yesine, kodwa ukusilela kulindeleke ukuba kuncinci kakhulu kunekota yangaphambili.Kwakhona, abaqhubi banokuzuza inzuzo ukuya kwi-6. Ngokutsho kukaJP Morgan, ingeniso yemidlalo ye-Macau ye-gross (GGR) ifikelele kwi-4 yezigidi zeedola ukuya kwi-2023 yezigidi zeedola ngosuku nge-15 kule nyanga.Ibhanki yongeze ukuba kukho ukunyuka okunyukayo kula manani kwezi ntsuku zidlulileyo.
この数字は何を物語っているのだろうか。アナリストのDS Kimは、「ほとんど活気のないVIPセグメントを除くと、マス/スロットGGRランレートがCovid以前の50%以上に回復し、EBITDAブレークイーブンレベル（マスでは30%半ばの回復）を大きく超え、FCF（フリーキャッシュフロー）の内訳（マスでは50%半ばの回復）という業界にとって重要なマイルストーンに到達したことを示している」と書いています。Okubalulekileyo kubaqhubi abanje ngeGalaxy Entertainment kunye neSands China, ukubuyiswa kwemarike yobuninzi kunamandla, sele kungaphezulu kwe-40% yamanqanaba angaphambi kobhubhane. UKim kaJP Morgan ubonisa ukuba le pesenti ingagqitha kuma-60% wakuba uNyaka oMtsha waseTshayina ufikile.
Inzuzo yeMacau ibalulekile ekuphuculeni
Ixesha lika-2020-2022 bekunzima kubasebenzisi beMacau ngaphambi kokuba i-China isandula ukuphuma kwi-COVID Zero Protocol. Iinkampani ezintandathu ziye zalwa nokuvalwa okwethutyana kunye nezithintelo zokuhamba ukunciphisa utyelelo kwimecca yekhasino.
Ngenxa yoko, ingeniso yakhawuleza yajika, iindleko zokusebenza zantinga, yaye amatyala abhanga.Ngenxa yoko, ukufumana i-credit-grade-grade credit kwiinkampani ze-Macau concession iye yaba yinto engenakwenzeka.Nangona kunjalo, imeko ingaphucuka ukuba ukuvuselelwa koqoqosho lwangoku kuya kwanda.
“Kutshanje siye saphonononga iireyithingi zeLas Vegas Sands Corp., MGM Resorts International, Melco Resorts & Entertainment Ltd., Studio City Co., Ltd., Wynn Resorts Ltd., kunye neWynn Resorts Ltd. Ngokutsho kweS&P Global Ratings, "Macau's Ukubuyisela kwakhona okubonakalayo kwi-GGR kuya kuvumela abakhuphi abalinganisiweyo ukuba bafikelele ngaphantsi kwemilinganiselo yethu, nangona kude kube sekupheleni kuka-5 kunye nasekuqaleni kuka-2023." Ibizwa ngokuba yi-ro.
I-arhente yokulinganisa inike iinkampani zemidlalo imbono "embi", ikhankanya "iimeko zezimali ezongeziweyo" kunye "nokubuyisela okunokwenzeka kwemithetho ye-COVID-19."
Inzuzo ye-Macau inenqanaba elithile lenkxaso
Ukongeza ekufumaneni inzuzo, iinkampani zokudlala zeMacau zibone ukukhula okuqinileyo kulo nyaka, kunye negumbi lokuphucula ngakumbi ngo-2024.
Siye sayihlaziya yanyusa imbonakalo yethu ye-mass game gross revenue (GGR).Kwimeko yesiseko, i-GGR iphucula kumanqanaba e-2019 ye-60% -70%.Esi sisiphelo esiphezulu se-50% ukuya kwi-70% yoluhlu ebesiluqikelele ngaphambili, "yongeza i-S&P.
Iifemu zophando zikwathe ukukhula kwemivuzo kunokuthintela amazinga aphezulu okutsha kwemali, ngelixa zixhasa izikhombisi zetyala ezinamandla kulo nyaka uzayo.
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