THE M3: VENETIAN VIP OPERATOR; CHINESE TOURISTS TO TAIWAN; SHANGHAI HOME SALES & PRICES FALL

The Macau Metro Monitor, July 7th, 2010


LONG SUCCESS WANTS TO LEAVE VIP BUSINESS macaubusiness.com

Paper maker Long Success, which also operates a VIP room in the Venetian Macao, is considering selling its gaming business, CEO Hu Dongguang said this week.  The group wants to focus less on gaming and more on environmental protection.

Although Long Success moved the Jun Ying VIP Club from Grand Waldo to the Venetian Macao in May 2009, the number of visitors stood below the group’s expectations during the year.  “Obviously, the keen competition arising from continuous openings of new casinos in Macau has made the operating environment more difficult,” the company wrote in its annual report.

TAIWAN TO LIFT BAN ON INDIVIDUAL CHINESE TOURISTS Channel News Asia

Taiwanese Premier Wu Den-yih said, "Individual Chinese tourists may be allowed to come early next year if preparatory measures have been completed by the two sides."  So far, Chinese can only travel in groups to Taiwan. 

Up to 500 individual tourists will be permitted to travel to the island each day after the ban is lifted, probably in early 2011, said Wu who was quoted by the Economic Daily News.

SHANGHAI HOME SALES DIVE 34% TO 5-YEAR LOW SCMP

Data from Uwin Real Estate Information Corp showed a total of 3.57 million square meters was sold in Shanghai's primary market, compared with 5.41 million sq meters a year earlier.  The average price of new flats fell 14.2% YoY in June.  Despite the property market cooling down, a number of mainland newspapers speculated yesterday that the government could release new cooling measures in the coming months.