THE M3: PACKAGE TOURS DROP 80%; COD MANILA; HAINAN

THE MACAU METRO MONITOR, OCTOBER 10, 2013

 

 

PACKAGE TOUR DROPPED BY 80% DUE TO NEW TOURISM LAW Macau Daily News

According to some travel agencies, package tour dropped by 80% after the new tourism law took effect, while package tour were all fully booked in September.  Package tour price went up from the previous HK$2,000 - $3,000 to as high as HK$6,000.  However, the new law has seen no impact on tourists visiting under the Individual travel scheme.

 

MANILA TO GET ITS OWN CITY OF DREAMS RESORT Macau Business

The City of Dreams Manila project, set to open in mid-2014, now requires an initial outlay of US$680 million, or US$60 million more than previously announced, said CEO Lawrence Ho. MPEL said Philippine gaming regulation amendments had allowed it to increase the number of gaming tables and machines.

 

City of Dreams Manila is now anticipated to be able to operate up to 365 gaming tables, 1,680 slot machines and 1,680 electronic table games upon opening.  The increased budget was also due to its decision to use its City of Dreams and Crown Towers brands for the property. 

 

FOSUN TO PARTNER CASINO FIRM IN US$1.5 BILLION HAINAN RESORT SCMP 

Chinese conglomerate Fosun International is teaming up with South African hotelier and casino king Sol Kerzner’s company to build a US$1.5 billion resort on China’s holiday island Hainan, a Kerzner official said.  The 62-hectare property, which will feature a water park and luxury 1,300-room hotel, will be located in Hainan’s southern coastal city Sanya.


Kerzner, which operates the Atlantis casino resort in the Bahamas and Atlantis hotel on Dubai’s artificial Palm Island, says the resort in Sanya will not include a casino.



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This is a brief note written by Hedgeye U.S. Macro analyst Christian Drake on 4/28 dispelling media reporting that “US GDP collapses to 0.7%, the lowest number in three years with the worst personal spending since 2009.”

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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.

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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'

“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."

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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.

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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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