MOP 6.00 Year IV
Number 773 Monday April 20, 2015
Publisher: Paulo A. Azevedo
Closing editor: Luís Gonçalves
16 Macau-bound flights diverted due to bad weather I Page 5
Very Important Problems Casino figures continue to confound. The market awaits relief but the headwinds keep blowing. Q1 numbers are far from reassuring. With the take from high rollers plunging 42 pct, and operators making MOP30 billion less. Thus, Macau’s fiscal surplus tanked more than 50 pct in the period. Meanwhile, the People’s Bank of China is clamping down on the use of underground banks and offshore companies to channel ‘black’ loot overseas. Investors say the move will hurt VIPs, premium mass gamblers, and junkets. Making it even more difficult to move money Pages
4&5
10,000 retail outlets in HK launch joint campaign to tackle crisis
INTERVIEW
Macau’s cake boss They call her the 3D cake master in town. With famous Korean pop star Rain on her roster of customers. Lidia Lourenço operated online cake shop LinaLenço Dessert on Facebook for five years before finally opening her own shop, she tells Business Daily. Quitting a full-time job at the age of 40 was a leap of faith. But she has a passion for cake-making. The next goal? Breaking into the cake shop business in Mainland China
PAGES 6 & 7
Keep taking the tablets Tablet computers boomed last year among local residents. With households owning one growing a whopping 33.6 pct to 80,000. Official data also reveals families primarily access the Internet via mobile broadband, for communication purposes
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www.macaubusinessdaily.com
Final Cut Yesterday, China cut reserve ratio requirements and power prices. The measures follow last week’s weak economic results. Authorities have been suggesting that helping measures could be implemented. As long as wages and unemployment are unaffected
Page 16
Page 9
New giant pandas arrive this month Page 5
Steve Wynn ‘obligated’ to vote for Elaine Wynn Page 8
HSI - Movers April 17
Name
Expensive delays The LRT project continues to siphon up money. The Light Rapid Transit segment in Taipa has already run up a tab of MOP9 billion, Secretary for Transport and Public Works Raimundo Rosario admits. With no agreement with the contractor in
sight, he said the gov’t could incur more legal costs. And even be forced to open a new tender. The amount expended on the LRT to date would build a third of Galaxy Phase II
China Overseas Land
2.74
AIA Group Ltd
2.21
China Mobile Ltd
2.09
Galaxy Entertainment
1.58
Cathay Pacific Airwa
1.35
China Life Insurance
-2.03
Industrial & Commerc
-2.16
China Resources Powe
-2.38
China Construction B
-2.44
Bank of China Ltd
-2.54
Source: Bloomberg
I SSN 2226-8294
Page 2
The Dark Knightmare At least 400 gaming tables. That’s the number Melco Crown Entertainment has committed to having in its upcoming integrated casino resort Studio City. If not, it could technically default on a HK$10.86 billion loan, Melco says. Loan conditions include the full opening
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of the Batman-inspired Studio City by October 1, 2016. With a minimum of 400 gaming tables. Chairman Lawrence Ho says he has “no idea” how many tables the government will allow
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