The Macau Metro Monitor, February 23, 2011
MPEL DOES OKAY, FOR NOW Intelligence Macau
IM believes Galaxy Macau, when it opens in two months or so, will take a bigger share of first-time visitors away from CoD than Venetian, even though Venetian has recently been tightening up on its rebates and rewards. IM also thinks Venetian's marketing of its rewards club in the coming months will further pressure CoD.
According to IM market data, Cotai is different than the peninsula in that proximity of casinos is not a factor. If a visitor is bored after visiting CoD or Venetian, he/she will more likely get on a shuttle bus back to the peninsula than to walk across the road to a rival casino on Cotai.
But IM is optimistic on the longer term outlook for MPEL given Lawrence Ho's leadership and his wise decision to stay out of the Ho drama.
MGM IPO 'BUBBLING ALONG': GRANT BOWIE Macau Daily Times
MGM China Holdings' IPO “is bubbling along,” said director Grant Bowie, denying a report by Apple Daily that mentioned MGM was delaying the listing. The IPO “is progressing at a normal pace”, Bowie added. MGM Macau’s president also revealed that he had talked with Hong Kong regulators yesterday, but gave no further details.
NO CASH SHIPPED FROM MACAU TO LAS VEGAS Macau Daily Times
Las Vegas Review-Journal announced it had “mistakenly stated that according to court documents filed by Steve Jacobs' lawyers, USD 68MM was couriered between LVS's Las Vegas and Macau operation."
“Court documents do not say cash was shipped, and the company says no cash was ever transferred,” the newspaper said in a correction note.
VISITOR ARRIVALS FOR JANUARY 2011 DSEC
Visitor arrivals totaled 2,076,064 in January 2011, up 1.4% YoY. Visitors from Mainland China increased by 7.9% YoY to 1,220,534, mostly from the Guangdong Province, Fujian Province and Shanghai; those travelling to Macao under the Individual Visit Scheme totalled 538,306, up by 20.2% YoY.
SINGAPORE CPI RISES AT FASTER PACE WSJ
S'pore Jan CPI rose 5.5% YoY and 1.3% MoM, faster than the market estimate of 4.8% and 0.6%, respectively. Economists say the year-to-year rise is the fastest since December 2008 and that the month-to-month rise is the fastest since April 1981.
FOUR THOUSAND WORKERS SAY NO TO SMOKING IN CASINOS Macau Daily Times
Over 4,000 gaming workers have signed a petition to ban smoking inside casinos, a member of the Macau Gaming Enterprises Staff Association told MDT. The association will continue to collect signatures outside of local casinos for a petition that will later be delivered to the Macau government.