October 25-28: VRMA (Vacation Rental Manager's Association) Annual Conf -  New Orleans

October 27: Macau Studio City opens

October 27 8:30AM: WYN 3Q CC - , PW: WYNDHAM

October 27 9:30AM: STAY 3Q CC - , PW: N/A

October 28 10:00AM: HLT 3Q CC - ; PW: 42576772

October 28 1:00PM: HOT 3Q CC - , PW: 44844364

October 28 5:00PM: DRII 3Q CC - 1- , PW:  56485276

October 29 8:00AM MGM 3Q CC -

October 29 9:00AM: HST 3Q CC - , PW: N/A

October 29 10:00AM: GLPI 3Q CC - , PW: N/A

October 29 10:00AM: MAR 3Q CC - , PW: 39462855

October 29 10:00AM: PNK 3Q CC - , PW: 68847879


MPEL - Not having junket rooms at Studio City’s casino was a “business decision” driven mainly by the size of the gaming property’s new-to-market table allocation from the Macau government, said a co-chairman of its main promoter Melco Crown Entertainment Ltd on the official opening day on Tuesday. 


Ho added that once it became known that Studio City was to get a new-to-market allocation of 250 tables – 200 for use from when the casino opened on Tuesday afternoon and a further 50 from January – “it was a no brainer for us that it was going to be all mass [table gaming]. If it was 400 tables [in the allocation] maybe there would have been a very small portion for VIP [gambling]. But we are where we are.”


Takeaway: Why start with a business that will decline? All Mass tables increases the probabality of more Mass promotional activity


LVS - Two men have been arrested on suspicion of complicity in the stealing of $42,908-worth of gaming chips from the casino at the Marina Bay Sands resort in Singapore.  The city-state’s Today newspaper reported that the suspects – aged 36 and 40 – were detained by officers from the Casino Crime Investigation Branch. The property was developed and is managed by Las Vegas Sands Corp.



WYNN - Macau junket operator Dore Entertainment Co Ltd is shutting down one of the three VIP rooms it promotes at casino hotel Wynn Macau. The news was confirmed to GGRAsia by Wynn Macau Ltd, which owns and manages the property. We can confirm that Dore will return one of their three junket rooms at Wynn Macau on October 31,” a company spokesperson told GGRAsia. “This is in accordance with Dore’s plan to scale down their business operations,” the spokesperson added in an emailed reply.


Takeaway: It had originally been reported that all of Dore's VIP rooms would be closed. 


AIRBNB - Airbnb is testing a new service that will give people something to do in new cities. It’s called Journeys, and it’s currently available as invite-only to people who want to visit San Francisco in December, but haven’t yet booked their trips.  Journeys offers full three-to-five-day travel plans to its selected testers. Through it, Airbnb will offer a free meal during each day; planned excursions devoted to San Francisco’s nightlife, natural wonders, or food scene; agent-selected rooms; and a Lyft ride from the airport to wherever the person is staying. These trips will reportedly cost between $500 and $750 for the individuals invited to use it.


Takeaway: More services, more competition from Airbnb


RCL - Australia has been chosen as the unusual world cruise departure port for Azamara Club Cruises' first-ever foray into a global voyage, which will end in London, U.K. In 2018 the 686-passenger Azamara Journey will sail a 102-day journey from Sydney's Opera House to London's Tower Bridge, docking overnight at the famous landmarks in signature Azamara style.



RCL - COO Adam Goldstein disclosed a sale of 90K shares.  Goldstein beneficially owns 253K shares of common stock direct following the transaction. 


Takeaway: That's a lot of stock but insider selling usually only means the stock has done well


PBoC - Cuts 7-day reverse repo rate by 10bos to 2.35%. 


Smoking Ban - Members of the Legislative Assembly and representatives of the casino operators and the gaming trade unions will meet in the middle of next month to discuss the bill that would ban smoking in casinos, according to the chairman of the assembly committee handling the bill, Chan Chak Mo.  Mr Chan told reporters that his committee had no firm stance on the ban.


Takeaway: Any further smoking ban not likely to go into effect until 2016


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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