Reminder that our slots Black Book conference call will be held at 11:00am today.
TOPICS WILL INCLUDE:
RELEVANT TICKERS: BYI, IGT, SGMS, WMS, MGAM, ALL.AX, KNM
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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TODAY’S S&P 500 SET-UP – October 10, 2013
As we look at today's setup for the S&P 500, the range is 28 points or 0.33% downside to 1651 and 1.36% upside to 1679.
CREDIT/ECONOMIC MARKET LOOK:
MACRO DATA POINTS (Bloomberg Estimates):
WHAT TO WATCH:
COMMODITY/GROWTH EXPECTATION (HEADLINES FROM BLOOMBERG)
The Hedgeye Macro Team
Daily Trading Ranges is designed to help you understand where you’re buying and selling within the risk range and help you make better sales at the top end of the range and purchases at the low end.