The Macau Metro Monitor, March 28, 2011
WHITHER THE MASS MARKET? Intelligence Macau
IM sees VIP revenues continuing to outpace mass revenues and that Galaxy Macau will open in a saturated mass market. The catalysts for mass growth have been muted so far this year--visitation has, more or less, stabilized; infrastructure projects (e.g. Guangzhou-Zhuhai railway line) won't be completed until later this year; and the marketing campaigns of Macau's casinos, with the exception of SJM's 3rd party casinos, haven't reached many destinations beyond Guangdong.
EMPLOYMENT SURVEY FOR DECEMBER 2010 - FEBRUARY 2011 DSEC
The unemployment rate for December 2010 - February 2011 was 2.8%, up by 0.1% point over the previous period (November 2010 - January 2011). Total labor force was 334,000 in the period and the labor force participation rate stood at 71.6%, up by 0.2% point from the previous period. Employment of Hotels, Restaurants & Similar Activities and the Gaming Sector saw an increase.
GROSS DOMESTIC PRODUCT 2010 DSEC
Macau's 2010 real GDP rose 26.2% to MOP 217BN (US$27.2BN). Per-capita GDP is US$ 49,745. Total visitor arrivals increased by 14.8% in 2010.
PRIVATE HOME PRICES DOWN SLIGHTLY IN FEBRUARY: NUS INDEX Channel News Asia
According to the NUS Singapore Residential Price Index, private home prices in Singapore fell 0.4% from January.
PANSY HO TO REPRESENT STANLEY HO GROUP IN PORTUGAL'S BIGGEST PRIVATE BANK macaubusiness.com
Pansy Ho will replace Patrick Huen Wing Ming as Stanley Ho Group's representative on the supervisory board of BCP bank starting at the bank's next annual general meeting on April 18. Her term will end in 2013.
The Stanley Ho Group includes Stanley Ho's 0.64% share in BCP, plus STDM's 1.62% stake.