MOP 6.00
Checking out
Closing editor: Luís Gonçalves
Tear it down. So says Legislative Assembly member Lau Veng Seng of Hotel Estoril and the swimming pool. Build anew, he advocates, constructing extra rooms and increasing the area of the new building. Other members cherish the memories and oppose its destruction
Year IV
Number 831 Thursday July 9, 2015
Publisher: Paulo A. Azevedo
Page 2
Macau Horse Racing Stumbling It enjoys a monopoly. But Macau Horse Racing Co. Ltd., which runs Macau Jockey Club, is finding it hard going. The enterprise is currently negotiating with the gov’t to renew its concession to run its horseracing betting business. The current contract expires end-August. But losses continue to grow, amounting, last year, to MOP51.25 million. Management continues to explore revenue-generating initiatives Page
2
Poles Apart
Development of reclaimed Zone B a priority Page 4
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HSI - Movers
Crash spread
Page 8&9
July 8
Name
Empty nesters
The gov’t wants to review the Economic Housing Law. Setting penalty provisions for householders who leave their allocated units vacant. Current law does not facilitate this right. But a fifth of economic housing units remain unoccupied
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Gaming www.macaubusinessdaily.com
Lower sales in HK & Macau for Bauhaus in first quarter Page 4 New urban areas not dependent upon public opinion Page 5
The battle for primacy begins today. Between the gov’t and casino operators’ diametrically opposed views on the universal smoking ban. The Legislative Assembly is scheduled to start a first-reading debate today. The gov’t is pressing for a full smoking ban on gaming floors including VIP rooms. Plus the elimination of smoking lounges on mass gaming floors
China’s stock rout is spreading. To the country’s commodities markets as investors rush to raise cash. Everything from silver to lead and sugar to eggs has tumbled on the Shanghai Composite Index. Which crashed to a three-month low yesterday. Gov’t measures to stabilise equities are proving futile
Health Bureau defends increase in tobacco tax Page 2
%Day
Link REIT/The
-1.74
MTR Corp Ltd
-1.87
CLP Holdings Ltd
-2.50
Hong Kong & China Ga
-3.02
Lenovo Group Ltd
-3.57
Bank of China Ltd
-6.87
BOC Hong Kong Holdin
-7.27
Industrial & Commerci
-7.56
China Life Insurance C
-8.82
China Overseas Land &
-10.00
Source: Bloomberg
Optimists vs. pessimists
I SSN 2226-8294
A ray of hope. Although not shared by everyone. The latest results for Macau’s gaming revenue have buoyed investors and some analysts. Who believe the gaming market may have finally bottomed out. Morgan Stanley analysts, however, beg to differ. Citing pinched margins and escalating costs. They forecast a drop of 34 pct in revenues this year, with 2016 still in the red
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