THE M3: LOTS 5&6, STANLEY HO, NEW CE

The Macau Metro Monitor.  December 21st, 2009

 

 

LAS VEGAS SANDS: COTAI WORK TO RESTART WITHIN 5 MONTHS wsj.com

Las Vegas Sands Chairman Sheldon Adelson said that he expects construction to be restarted on the company’s Cotai Strip project in about five months.  The first phase of the project will be finished by June 2011 and phase two will be completed by the end of 2011, according to Adelson.  Sands China, recently listed on Hong Kong’s stock exchange, raised US$1.75 billion in project financing last month to restart construction on Lots 5&6.  It will also use US$500 million raised from the US$2.5 billion initial public offering for construction purposes.  Construction was halted in November 2008 due to a lack of funding.

 

LVS’ plans include more than 20,000 hotel rooms in Macau, about 1.6 million square feet of exhibition space, more than 2 million square feet of retail malls and six theaters.  Separately, Adelson said that the first stage of the Marina Bay Sands integrated resort in Singapore will open in early April.

 


MACAU SAR’S THIRD-TERM GOVERNMENT SWORN IN shanghaidaily.com

The celebration marking the 10th anniversary of Macau’s return to the motherland and the inauguration of the third-term government of the Macau Special Administrative Region was held on Sunday.  Chinese president Hu Jintao attended the ceremony, where Macau SAR Chief Executive Fernando Chui Sai On and principal officials of the SAR governments were sworn in. 

 


NEW MACAU LEADER TO DIVERSIFY ECONOMY FROM GAMING reuters.com

Macau plans to diversify its economy over the next five years into sectors such as logistics, according to new Chief Executive Fernando Chui.  Chinese leaders also pledged to better regulate gaming in the territory.  Chui said, “While enhancing regulations on the gaming industry, we will also put emphasis on the convention, exhibition, logistics, and cultural industries.  We will also focus on the upgrade and transformation of traditional industries.”

 


STANLEY HO APPEARS IN PUBLIC macaudailytimes.com.mo

Stanley Ho made his first appearance in more than four months at the inauguration of the third-term Macau SAR government at the Macau dome yesterday.  The 88 year-old had been hospitalized in Hong Kong and has reportedly undergone two surgeries.

 

 

MACAU CONSUMER PRICES DECLINE IN NOVEMBER forextv.com

Macau’s Statistics and Census Service announced that the consumer price index decreased 0.11% year-over-year in November, compared to the 1.1% fall in the previous month.  On a monthly basis, the CPI increased 0.49% in November, faster than the 0.28% growth in the preceding month.  For the January-November period, consumer prices have risen by 1.21% when compared to the same period in 2008.

 


GROUNDBREAKING FOR NEW UNIVERSITY OF MACAU English.cctv.com

President Hu Jintao ended his two-day tour of Macau on Sunday with a groundbreaking ceremony for the SAR’s only comprehensive university.  The move follows up on a promise by the Central Government to give more land to Macau.  The university now begins construction of its new campus on Hengqin Island.  


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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