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http://www.dhsec.com/NewsDetail.asp?StoryID=e-20080623DN0015… DJ MARKET TALK: "Dead Cat Bounce" Likely For Some Macau Plays -CS Jun 23, 2008 15:45 1533 [Dow Jones] 'The worst is yet to come' for Macau gaming operators, says Credit Suisse. Says in near term, escalating junket commission rate should continue to suppress casino operators' profitability, believes any measures trying to put cap on commission rates will be unsuccessful; in medium term, expects over 30% capacity increase in 2009 to nourish price war over junket commission rates, further stimulate salary inflation; in long term, Macau casinos will face challenges from other lower-gaming-tax markets, with Taiwan as strongest contender. Still, despite all near-to-long-term challenges, CS says Macau plays' share prices have fallen by 38%-85% since October; 'we see the possibility for a near-term dead cat bounce;' top picks Melco (0200.HK [News / Quote]), Dore (0628.HK [News / Quote]). Both rated Outperform, targets HK$13.80, HK$1.32 respectively. Melco off 2.0% at HK$8.04, Dore down 3.2% at 46 HK cents.(RLI) Contact us in Singapore. 65 64154 140; MarketTalk@dowjones.com |
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| aus der Diskussion: | Dore Holdings - neue Casinoaktie aus Macao |
| Autor (Datum des Eintrages): | Sugar2000 (23.06.08 11:44:05) |
| Beitrag: | 83 von 228 (ID:34352256) |
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