MOP 6.00 Closing editor: Sara Farr Publisher: Paulo A. Azevedo Number 725 Monday February 9, 2015 Year III
Suncity boss: VIP sector not replaceable, full-smoking ban worsening drop | Page 4
Walking a fine line
There’s change in the air. Wells Fargo says President Xi Jinping wants casino growth in step with that of the Chinese economy. This envisages 10pct growth in revenues only. Thus, recent restrictions imposed on the industry and travel are here to stay. ‘Macau gaming is entering a new normal of tighter policy and more moderate forward growth,’ says the US bank. Positive drivers still exist but ‘need to be sustained,’ it says. Stable gaming revenues, improved credit growth, and local government support are cited. Plus new liquidity generated by the two new casinos. And a likely rebound of stocks prior to Studio City and Galaxy opening Page
Interview
2
Asian casinos crackdown
An Aussie winemaker in Portugal
China’s anti-corruption campaign that shooed high-stake gamblers from Macau’s gaming tables is now spreading its wings to reach corrupted Chinese gambling in foreign casinos all over Asia
Peter Bright moved to Portugal in the 1980s. And has called it home ever since. The Aussie winemaker has not been idle. Developing various companies there, he’s currently involved with Terra D’Alter. Which produces some 1.2 million bottles of wine a year. He talks to Business Daily about the maturing consumer markets of Hong Kong and Macau. And the myth of wine corks
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Back to the future
February 6
Name
Hengqin FTZ reaches out Transparency is key. The public’s complained. And so have legislators. Now the government will adopt a ‘licensing system for petroleum product imports.’ For a more timely grasp of fuel price changes to be publicly disclosed. Currently, local retail prices fail to reflect the sharp fall in global oil prices. The ‘licensing system’ existed before 2008, and is now to resume, authorities say
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%Day
Galaxy Entertainment
7.10
Sands China Ltd
3.09
Cheung Kong Holdings
2.46
Tingyi Cayman Island
2.21
Hutchison Whampoa L
1.95
China Shenhua Energy
-1.67
Belle International
-1.93
Power Assets Holding
-2.11
China Mobile Ltd
-2.22
China Overseas Land
-3.16
Source: Bloomberg
I SSN 2226-8294
Geography and history have a commercial value. Macau is expected to play a pivotal role in the development of Hengqin Island. As many as 610 financial enterprises are already established there. But authorities want to double that in Hengqin’s Free Trade Zone by next year. Macau’s unique Portuguesespeaking country connections can hopefully attract overseas investors. Preferential policies are also expected to be of interest to MSAR enterprises
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