Macau Business Daily, Jan 9, 2014

Page 1

MOP 6.00 Closing editor: Sara Farr Year III

Number 556 Monday June 9, 2014

Publisher: Paulo A. Azevedo

Fragrant Harbour Fallout

www.macaubusinessdaily.com

T

he Hong Kong Tourism Board faces a quandary. Visa restrictions on mainland Chinese tourists could dampen already declining retail sales. Meanwhile, Macau continues to register healthy growth in this sector. Anti‑mainlander sentiment and open discussions on restricting visitor access to the Fragrant Harbour could explain the differing fortunes of the SARs, say some Page

Mass market on a roll

3

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The VIP segment continues to decline. Analysts at Wells Fargo have accordingly reduced gaming revenue estimates this year. Revised thinking sees the VIP segment contract, while the mass market expands around 30 percent Page 5

Sands’ suspension Construction works for phase 3 of the Las Vegas Sands Corp development project on Cotai have been suspended. Two work-related accidents have attracted the attention of the Labour bureau, and an investigation Page 3

Rosy outlook China has announced declining May imports. Exports behaved wonderfully, and trade surplus climbed to US$35.92 billion Page 9

HSI - Movers June 6

Name

Move along, please A new bus company is taking over the services of bankrupt Reolian. The new 4-year contract will be signed this week. For now, though, the operator’s name is secret. Although all will soon be revealed. A new remuneration system also comes into play; and will apply to the existing operators, too, when their contracts come up for renewal Page 2

%Day

China Petroleum & C

1.28

COSCO Pacific Ltd

1.14

Wharf Holdings Ltd

1.01

China Shenhua Ener

0.46

HSBC Holdings PLC

0.37

Cheung Kong Holdin

-2.03

Bank of China Ltd

-2.16

Swire Pacific Ltd

-2.17

Want Want China Ho

-2.26

Hong Kong & China G

-2.49

Source: Bloomberg

INTERVIEW I SSN 2226-8294

Making hay Bloomberg senior gaming analyst Tim Craighead says regional competition should not bother Macau. Different visitors suit different gaming jurisdictions, he says. On top of which, Macau is ‘digesting’ excess demand, so there’s plenty to go around. Until Cotai II doubles capacity Pages 6 & 7

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