The Macau Metro Monitor, July 25, 2011
HOW NOT TO UNDERSTAND MACAU Intelligence Macau
IM says the driver behind Macau's growth is not China's middle class but rather its newly rich elite and its underclass. IM characterizes the "real mass market" in Macau as people who cannot afford to gamble. They represent more than 2/3 of the visitor market to Macau and don't say in a hotel room. IM adds that as China's economy develops further, there will be more sophisticated spenders on a wide range of entertainment options, which would suggest, over the long term, MPEL's House of Dancing Water was the right business decision.
SINGAPORE'S JUNE INFLATION UP 5.2% ON-YEAR Channel News Asia
S'pore CPI in June rose 5.2% YoY but fell 0.2% MoM, in-line with expectations. Core inflation rose 2.3% YoY and unchanged MoM.
MBS HOTEL TOWER HIT BY BLACKOUT Strait Times
Marina Bay Sands was hit by another power failure on Friday night, plunging all the guestrooms in one of the three towers (783 rooms) into total darkness. Power was restored an hour later.