THE MACAU METRO MONITOR

STANLEY HO HOSPITALIZED, STATE OF HEALTH UNCLEAR scmp.com

 

STANLEY HO HOSPITALIZED IN HONG KONG, SJM SHARES FALL Bloomberg.com

Casino magnate Stanley Ho has been hospitalized in Hong Kong, according to reports released on Tuesday.  The Chinese-language newspaper Apple Daily cited unnamed sources as saying that Mr. Ho had tripped and hit his head last week, resulting in him being rushed to hospital for surgery.  Apple Daily said that his condition had stabilized following the removal of a blood clot in his brain.  The long-term effects of the injury are not certain, according to the report.

 

JULY GAMING REVENUES UP 3.1% macaudailytimesnews.com

Gross gaming revenues in July came to MOP9.5 billion, a year-over-year increase of 3.1%, according to the LUSA news agency.  SJM continues to lead the way in terms of gross revenues, with 23.36% market share, followed by LVS with 21.63%, MPEL with 17.77%, WYNN with 14.85%, and MGM and Galaxy with approximately 12% and 10%, respectively. 

Of the MOP9.5 billion, MOP599 million originated from slot machines.

 

ADELSON AND WYNN CONFIDENT IN NEW CE macaudailytimesnews.com

Sheldon Adelson and Steve Wynn are both optimistic about the future political leadership of Macau.  The Chairmen of the Venetian and Wynn expressed confidence in newly elected Chief Executive Fernando Chui Sai On by touting his US-based education as a positive attribute. 

During a quarterly conference call last week, Wynn said, “in America, the creators of employment have a target on their back, that's not the case of Macau and the Peoples Republic of China. Maybe we could learn a lesson from what is going on there.”  Sheldon Adelson expressed hope that the gaming tax could be subject to “innovation” – specifically he seeks the removal of a 4% tax (on top of the 35% basic gaming tax) that goes to the Macau Foundation as well as an overall reduction to compete with emerging gaming markets like Singapore, Taiwan and the Philippines.

 

GENTING SINGAPORE RESORT MAY OPEN BY END-2009 btimes.com

CIMB Investment Bank has said that Genting may open its S$6.6 billion resort in Singapore before the end of 2009 and earn more than previously estimated in its first year of operation.  Construction has been progressing at a “quick pace” and Genting may announce the resort’s opening date next month.  The resort is now expected to generate S$690 million in EBITDA in its first year, more than double CIMB’s previous estimate. 

Genting’s Singapore project is one of two casino resorts the government has allowed to be built in the city-state in order to triple annual tourism revenue to S$30 billion by 2015.  LVS announced on July 8th that its Singapore casino resort would open on schedule in January or February of next year.


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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