MOP 6.00 Number 700 Monday January 5, 2015
Publisher: Paulo A. Azevedo
Closing editor: Joanne Kuai
SJM announces 5pct pay rise, the first operator to meet casino workers’ demands | PAGE 4
December figures cap ‘rocky’ year
Year III
A
nother Gross Gaming Revenue record. But one causing concern and consternation in various quarters. Even if it was anticipated. GGR suffered its first full-year fall in 2014. Dropping 2.6 per cent from 2013 to finish the year at MOP351.5 billion (US$44 billion). December gaming revenue plunged an unprecedented 30 per cent y-o-y to 23.29 billion patacas (US$2.92 billion). Credit Suisse analysts claim the ‘sharp revenue deceleration in mass market is likely to be a negative surprise to the market and drive another round of re-rating’ PAGE
125 IPOs launched in Mainland in 2014
Great opportunity
PAGE 9
Fresh air from Chinese local bonds markets
Hengqin Headquarters Commercial Building is officially inviting business. Real estate agency Centaline Property believes the development of Hengqin can make up for the lack of land resources in Macau. With the 24-hour border crossing, the realtor sees great potential in the Hengqin project
PAGE 10
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HSI - Movers January 2
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PAGE 5
Melco Crown de-listing in HK www.macaubusinessdaily.com
3
Interview
Not such a good idea after all. Dual-listed casino operator Melco Crown Entertainment Ltd. applied to de-list from the Hong Kong Stock Exchange on Friday. Barely three years after listing its shares on the major financial hub. The company cited limited fundraising opportunities. Plus onerous compliance obligations and costs
PAGE 4
Goodbye chimneys, hello shops
It’s confirmed. Official figures from China highlight the slowing manufacturing sector. While revealing an inspiring increase in the service sector
PAGE 8
‘Chopsticks and Gambling’
A blessing in disguise. So says Associate Professor Desmond Lam of the University of Macau regarding plunging casino revenues. The gambling psychology and behavioural expert sees an opportunity to diversify the economy away from solely gaming. But changing fundamental risk seeking attitudes that exhibit a high illusion of control will be a major challenge, he concedes
PAGES 6 & 7
%Day
China Overseas Land
8.46
China Resources Land
7.09
Ping An Insurance Gr
5.06
Kunlun Energy Co Ltd
4.09
China Life Insurance
3.12
Tingyi Cayman Island
-1.13
Sands China Ltd
-1.18
Li & Fung Ltd
-1.52
Want Want China Hol
-1.76
Galaxy Entertainment
-1.83
Source: Bloomberg
I SSN 2226-8294
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