THE M3: SJM TO OPEN SLOT PARLOUR; SANDS CHINA CONSTRUCTION CEREMONY; GAMING SURVEY

The Macau Metro Monitor, March 25th, 2010


SJM SLOT PARLOUR TO GO AHEAD macaubusiness.com

SJM's project to transform its Guangzhou Hotel into a slot-machines parlour was been granted approval by the Gaming Inspection and Coordination Bureau (DICJ) as an initiative to promote businesses, hospitality and tourism in the Inner Harbour. This was a surprise since the government "stands firm" on moving slot-machines parlours out of residential areas. According to DICJ’s director, Manuel Joaquim das Neves, no other locations in the Inner Harbour has been approved to open slot machine venues.

 

COTAI SANDS READY TO SHIFT macaubusiness.com

On Monday, March 29, Sands China will hold a contract signing ceremony with a contractor to restart construction on parcels 5 and 6 on the Cotai Strip. The actual start date of the construction is TBD. Phase I of the project is expected to be ready in 18 months and will cost approximately US$2 billion.


SURVEY ON MANPOWER NEEDS AND WAGES FOR THE 4TH QUARTER 2009- GAMING INDUSTRY DSEC

At the end of 4Q 2009, the Gaming Sector had 44,020 employees, up slightly by 0.4% YoY. Analyzed by occupations that are directly related to betting services, 18,274 were dealers, up slightly by 0.4% YoY; 12,040 were hard & soft count clerks, cage cashiers, pit bosses, casino floor persons, betting service operators, etc., up by 1.4%. Meanwhile, 5,283 were casino & slot machine attendants, security guards, surveillance room operators, etc., up by 4.4% from a year earlier.

 

In December 2009, average earnings (excluding bonuses and allowances) for full-time employees dropped by 3.4% year-on-year to MOP 15,100. The average earnings for dealers fell by 4.9% over December 2008 to MOP 13,270, and that for hard & soft count clerks, cage cashiers, pit bosses, casino floor persons, betting service operators, etc. stood at MOP 18,400, down by 5.7%. The average earnings for casino & slot machine attendants, security guards, surveillance room operators, etc. registered a YoY increase of 4.7% to MOP 10,060.

At the end of December 2009, number of vacancies of the Gaming Sector increased by 48.1% YoY to 382, with 114 for dealers, 57 for hard & soft count clerks, cage cashiers, pit bosses, casino floor persons, betting service operators, etc. and 66 for  casino & slot machine attendants, security guards, surveillance room operators, etc.

With respect to the indicators that measure the inflow and outflow of human resources, as well as staffing needs of the sector, the employee turnover rate and recruitment rate of the Gaming Sector were 4.1% and 4.9% respectively in the fourth quarter of 2009, while the job vacancy rate was 0.9%.

 


Another French Revolution?

"Don't be complacent," writes Hedgeye Managing Director Neil Howe. "Tectonic shifts are underway in France. Is there the prospect of the new Sixth Republic? C'est vraiment possible."

read more

Cartoon of the Day: The Trend is Your Friend

"All of the key trending macro data suggests the U.S. economy is accelerating," Hedgeye CEO Keith McCullough says.

read more

A Sneak Peek At Hedgeye's 2017 GDP Estimates

Here's an inside look at our GDP estimates versus Wall Street consensus.

read more

Cartoon of the Day: Green Thumb

So far, 64 of 498 companies in the S&P 500 have reported aggregate sales and earnings growth of 6.1% and 16.8% respectively.

read more

Europe's Battles Against Apple, Google, Innovation & Jobs

"“I am very concerned the E.U. maintains a battle against the American giants while doing everything possible to sustain so-called national champions," writes economist Daniel Lacalle. "Attacking innovation doesn’t create jobs.”

read more

An Open Letter to Pandora Management...

"Please stop leaking information to the press," writes Hedgeye Internet & Media analyst Hesham Shaaban. "You are getting in your own way, and blowing up your shareholders in the process."

read more

A 'Toxic Cocktail' Brewing for A Best Idea Short

The first quarter earnings pre-announcement today is not the end of the story for Mednax (MD). Rising labor costs and slowing volume is a toxic cocktail...

read more

Energy Stocks: Time to Buy? Here's What You Need to Know

If you're heavily-invested in Energy stocks it's been a heck of a year. Energy is the worst-performing sector in the S&P 500 year-to-date and value investors are now hunting for bargains in the oil patch. Before you buy, here's what you need to know.

read more

McCullough: ‘My 1-Minute Summary of My Institutional Meetings in NYC Yesterday’

What are even some of the smartest investors in the world missing right now?

read more

Cartoon of the Day: Political Portfolio Positioning

Leave your politics out of your portfolio.

read more

Jim Rickards Answers the Hedgeye 21

Bestselling author Jim Rickards says if he could be any animal he’d be a T-Rex. He also loves bonds and hates equities. Check out all of his answers to the Hedgeye 21.

read more

Amazon's New 'Big Idea': Ignore It At Your Own Peril

"We all see another ‘big idea’ out of Amazon (or the press making one up) just about every day," writes Retail Sector Head Brian McGough. "But whatever you do, DON’T ignore this one!"

read more