THE M3: MGM CHINA POST-CNY; UNEMPLOYMENT; SMOKING BAN; INFLATION EASE

The Macau Metro Monitor, February 27, 2013

 

 

MGM CHINA SEES MACAU CASINO VIP BUSINESS PICK UP Bloomberg

VIP business has seen a “strong comeback” after the festival that ended on Feb. 17, Bill Hornbuckle, chief marketing officer of MGM Resorts, said in Macau today.  MGM China said it hasn’t seen any sign of a Chinese crackdown on the junkets.  “There’s never any real, concrete indication or direction from the government,” said Pansy Ho, chairman of MGM China and daughter of Stanley Ho. “Although the growth rate of VIP business may slow, I’m not aware of any crackdown.”  

 

Pansy Ho said she has no plan to cut her 27% stake in MGM China.

 

EMPLOYMENT SURVEY FOR NOVEMBER 2012-JANUARY 2013 DSEC

Macau unemployment for November 2012-January 2013 held stable at 1.9%.  Total labor force was 358,000; the labor force participation rate stood at 72.5%, up by 0.1%.  Total employment increased continuously, reaching 351,000 in November 2012-January 2013, an increase of 1,400 from the previous period. 

 

LAWMAKERS CALL FOR FULL CASINO SMOKING BAN Macau Business

Legislative Assembly members yesterday urged city officials to review the partial ban on smoking inside casinos as soon as possible, making them completely smoke-free.  The most vocal assembly member was Angela Leong On Kei, who is also an executive director of SJM.


A regular review of the ban is scheduled for 2015, but assembly members want it to be pushed forward. However, the head of the Health Bureau, Lei Chin Ion, said yesterday the review would only take place in 2015 as scheduled.  Lei said yesterday that the bureau detected 118 violations of the partial smoking ban in casinos between January 1 and February 20, 60% of which involved tourists.

 

VISITOR DROP TO HELP EASE INFLATION: TAM Macau Business

Secretary Francis Tam said that consecutive monthly declines in visitor arrivals could help ease Macau’s strong internal demand and consequently slow down inflation.  Tam said that strong purchasing power of tourists is the “main factor” pushing up the city’s internal demand.  


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