THE M3: NATIONAL DAY EXPECTATIONS; MACAU LEGEND

THE MACAU METRO MONITOR, SEPTEMBER 18, 2013

 

 

GAMING REVENUE EXPECTED TO GROW DURING NATIONAL DAY HOLIDAY Macau Daily News

Gaming operators projected that visitor arrival in the coming National Day holiday will stay flat compared with last year while gaming revenue will go up about one-third compared to normal days.  VIP business operators are holding over a hundred rooms for their clients for the long holiday.  Wednesday is normally the quietest day in a week; gaming operators tend to provide privileges such as hotel accommodation and coupons for high-end guests in the mass market in order to maintain a steady number of guests across the week.

 

MACAU LEGEND PLANS TO RAISE $300 MILLION THROUGH SHARE SALE Bloomberg

Macau Legend Development Ltd plans to raise about $300 million by selling new shares next year to fund a redevelopment of Fisherman's Wharf.  It expects to spend about $1 billion to revamp its Fisherman’s Wharf and plans to fund that The casino operator expects to spend about $1 billion to revamp its Fisherman’s Wharf gaming complex in the world’s biggest gambling hub. It plans to fund that through the share sale and by raising debt, according to co-chairman Carl Tong. 

 

The proposed share sale may take place as soon as early 2014 and will raise Macau Legend’s public float to about 25-26% from the current 15-16%, Tong said.  The company is also looking to refinance existing syndicated loans through debt issuance.


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

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Cartoon of the Day: Crash Test Bear

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

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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.

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

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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.

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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."

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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.

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

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

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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.

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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.

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