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.


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.

read more

Cartoon of the Day: Crash Test Bear

In the past six months, U.S. stock indices are up between +12% and +18%.

read more

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.

read more

Exact Sciences Up +24% This Week... What's Next? | $EXAS

We remain long Exact Sciences in the Hedgeye Healthcare Position Monitor.

read more

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.

read more

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."

read more

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.

read more

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."

read more

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.

read more

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.

read more

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.

read more

Got Process? Zero Hedge Sells Fear, Not Truth

Fear sells. Always has. Look no further than Zero Hedge.

read more