MOP 6.00 Publisher: Paulo A. Azevedo
Closing editor: Sara Farr
Macau Treasury hit by gaming slowdown O
Number 661 Thursday November 6, 2014
f course, it’s affecting the operators. But decelerating gaming revenues are hitting the SAR Treasury in the pocket, too. Over the past 5 months MOP5.6 billion in taxes has slipped away vis-à-vis last year. Last month was the worst with MOP3 billion ‘lost’. Given we had a good start to the year, though, the government has reached 94.1 percent of this year’s gaming tax target. We should hit a home run in November
Year III
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Moving round the corner
Cultural Industry Committee beefs up task force Page 2
The scourge of skyrocketing rents strikes again. Obliged to move from the Yellow House at the foot of St. Paul’s Ruins, local design house MO-Design has reinvented itself. It will set up home in the old Tak Seng On pawnshop next year. Staff are being recruited, and trademarks registered. Opening dates are sketchy but it will still be in the heart of the city, in San Ma Lou
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MIA’s Sky Shilla Duty Free starts today Page 6
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Want to diversify a gaming economy? Get in the swim Page 7
Too much lending?
HSI - Movers November 5
Name
The loan-to-deposit ratio has reached record highs. For non-resident customers it still stands at 147 percent. Anything above 120 percent poses a problem, say experts. Outstanding loans for residents totalled MOP328 billion in September compared to MOP346billion for non-residents.
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5
%Day
Want Want China Hol
1.39
COSCO Pacific Ltd
1.32
Power Assets Holding
1.21
Belle International
1.13
Tencent Holdings Ltd
1.06
PetroChina Co Ltd
-2.50
CNOOC Ltd
-2.83
China Overseas Land
-2.84
Galaxy Entertainment
-2.96
Sands China Ltd
-3.31
www.macaubusinessdaily.com
Source: Bloomberg
Taking its toll
I SSN 2226-8294
Businessmen have complained loud and long. Hong Kong’s turbulent street protests are taking a toll. On tempers, politics and the economy. Private sector activity fell substantially according to HSBC/Markit Purchasing Managers’ Index. Companies say the protests are killing trade
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