THE M3: WYNN COTAI CONSTRUCTION; SANDS TABLES; PARISIAN

The Macau Metro Monitor, January 29, 2013

 

 

ACS: HOCHTIEF STARTS WORK ON ITS BIGGEST PROJECT IN ASIA Eleconomista.es, Macau Business

Hochtief has started construction of Wynn Cotai, according to the company controlled by ACS.  This is the largest project that the German construction group has achieved so far in Asia.  The company has been awarded the work and implemented through its subsidiary Leighton Asia.


The project is set to be completed in 2016.  The contract value is AUD$222 million (MOP1.85 billion), Bloomberg reports today.  Among the Macau projects in which Leighton has been involved are Wynn Macau, Wynn Encore, Macau Fisherman’s Wharf and City of Dreams.

 

NO REQUEST FROM SANDS TO SET UP NEW TABLES: GOVT Macau Business

The head of the Gaming Inspection and Coordination Bureau, Manuel Joaquim das Neves, says he has not yet received any request from Sands China to set up 200 additional tables.  Neves said, “The operator has to inform us where it is going to put the tables and when the tables will open. Afterwards, we will conduct an inspection.”

 

Yesterday, Sands CEO Edward Tracy said some of the new tables would be made available in time for the Lunar New Year holiday, which starts on February 10. 

 

THE PARISIAN BUDGET UP TO US$2.8 BILLION: CEO Macau Business

The cost of the French-themed casino resort The Parisian, the next Sands China Ltd project planned for Cotai Parcel 3, is likely to be at least US$2.8 billion (MOP22.4 billion), Sands CEO Edward Tracy said yesterday. This figure is up from the September estimate of US$2.5 billion given by Michael Leven, the president and COO of LVS.


He added that construction on The Parisian is likely to start in the second quarter of this year, and would take about 36 months to construct and complete.

 

In the meantime, Tracy also said that LVS has hired three former FBI agents to strengthen its fight against money-laundering, one of them has already been working in Macau for about one month.



7 Tweets Summing Up What You Need to Know About Today's GDP Report

"There's a tremendous opportunity to educate people in our profession on how GDP is stated and projected," Hedgeye CEO Keith McCullough wrote today. Here's everything you need to know about today's GDP report.

read more

Cartoon of the Day: Crash Test Bear

In the past six months, U.S. stock indices are up between +12% and +18%.

read more

GOLD: A Deep Dive on What’s Next with a Top Commodities Strategist

“If you saved in gold over the past 20 to 25 years rather than any currency anywhere in the world, gold has outperformed all these currencies,” says Stefan Wieler, Vice President of Goldmoney in this edition of Real Conversations.

read more

Exact Sciences Up +24% This Week... What's Next? | $EXAS

We remain long Exact Sciences in the Hedgeye Healthcare Position Monitor.

read more

Inside the Atlanta Fed's Flawed GDP Tracker

"The Atlanta Fed’s GDPNowcast model, while useful at amalgamating investor consensus on one singular GDP estimate for any given quarter, is certainly not the end-all-be-all of forecasting U.S. GDP," writes Hedgeye Senior Macro analyst Darius Dale.

read more

Cartoon of the Day: Acrophobia

"Most people who are making a ton of money right now are focused on growth companies seeing accelerations," Hedgeye CEO Keith McCullough wrote in today's Early Look. "That’s what happens in Quad 1."

read more

People's Bank of China Spins China’s Bad-Loan Data

PBoC Deputy Governor Yi says China's non-performing loan problem has “pretty much stabilized." "Yi is spinning. China’s bad-debt problem remains serious," write Benn Steil and Emma Smith, Council on Foreign Relations.

read more

UnderArmour: 'I Am Much More Bearish Than I Was 3 Hours Ago'

“The consumer has a short memory.” Yes, Plank actually said this," writes Hedgeye Retail analyst Brian McGough. "Last time I heard such arrogance was Ron Johnson."

read more

Buffalo Wild Wings: Complacency & Lack of Leadership (by Howard Penney)

"Buffalo Wild Wings has been plagued by complacency and a continued lack of adequate leadership," writes Hedgeye Restaurants analyst Howard Penney.

read more

Todd Jordan on Las Vegas Sands Earnings

"The quarter actually beat lowered expectations. Overall, the mass segment performed well although base mass lagging is a concern," writes Hedgeye Gaming, Lodging & Leisure analyst Todd Jordan on Las Vegas Sands.

read more

An Update on Defense Spending by Lt. Gen Emo Gardner

"Congress' FY17 omnibus appropriation will fully fund the Pentagon's original budget request plus $15B of its $30B supplemental request," writes Hedgeye Potomac Defense Policy analyst Lt. Gen Emerson "Emo" Gardner USMC Ret.

read more

Got Process? Zero Hedge Sells Fear, Not Truth

Fear sells. Always has. Look no further than Zero Hedge.

read more