THE M3: SJM/MPEL SMOKING TESTS; RWS EXEC FINED; JAPAN

THE MACAU METRO MONITOR, NOVEMBER 8, 2013

 

 

SMOKY CASINOS TOLD TO CUT SMOKING AREAS BY 10% Macau Business

According to Health Bureau director Lei Chin Ion, the 16 gaming establishments that failed a second round of tests of the air quality in their smoking area must reduce their smoking areas by 10%.  Lei said they must improve the air quality throughout their premises.  He said the smoking areas might be reduced by January.  Most of the casinos that failed the tests are run under SJM.

Failing casinos: Golden Dragon, StarWorld, Jimei, Emperor Palace, Lan Kwai Fong, Club VIP Legend, Kam Pek, Diamond, Grandview

Failing slot-machine parlours: Mocha Hotel Royal, Mocha Hotel Taipa Square, Mocha Marina Plaza, Mocha Golden Dragon, Mocha Hotel Sintra, Mocha Lan Kwai Fong and Mocha Hotel Taipa Square

 

RWS SENIOR EXECUTIVE FINED FOR OFFENCES UNDER CASINO CONTROL ACT Channel News Asia

Lim Tze Chean, a RWS senior executive has been fined S$100,000 for breaching the Casino Control Act on three counts.  Chean admitted to one count of providing misleading information to regulators and two counts of destroying the company's log entries.  At the time of the offences, Lim was a vice-president of VIP services at the gaming services department of RWS.  He is currently director of the projects department at RWS.


Between May and July 2011, Lim gave misleading information to the authorities during investigations.  He also destroyed log entries that showed RWS had issued complimentary Universal Studios Singapore tickets to patrons who renewed their annual levies.  Lim is one of three individuals charged in September last year for doing so.

 

JAPAN'S BIGGEST PROPERTY DEVELOPER TEAMS UP FOR POSSIBLE TOKYO CASINO Reuters

Japan's biggest property developer Mitsui Fudosan Co has joined forces with media firm Fuji Media Holdings and builder Kajima Corp to develop a proposed casino and resort complex in Tokyo.  

 

The three firms want to build a complex in Odaiba, near Tokyo Bay, that would include a hotel, conference center and a casino.  That plan hinges on the passage of the law and Tokyo being chosen to host a casino. Japan's biggest city is seen as a prime location for an integrated resort, but it is likely to face competition from more than a dozen other locations across the country.  

 

Mitsui Fudosan, Fuji Media and Kajima all declined to give further details on the project beyond saying that they had submitted a proposal to the government to develop a casino resort as part of a special economic zone.  A group of more than 100 lawmakers, many from the LDP, will meet on Tuesday to finalize plans for an initial bill which they plan to submit during the current parliament session that ends next month.


Did the US Economy Just “Collapse”? "Worst Personal Spending Since 2009"?

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

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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