Taxi!
Macau’s Civic and Municipal Affairs Bureau (CMAB) is set to issue 150 new taxi licenses by year’s end. Purportedly, the CMAB will offer licenses via public auction: Starting at MOP 200,000 (US$ 22,500) each. With a total population of 582,000, the number of taxis in the city remained stagnant at 780 from 1999 to 2005. The CMAB authorised 50 new taxi licenses earlier this year but long waits still persist. Visitor arrivals are expected to exceed 22 million in 2007.

Growth and grievances
For the first time in Macau’s history, China’s National Day on October 1st was marked by protests. Jose Pereira Coutinho, a Legislative Assembly deputy, stated: “The government tells us the casino boom is bringing wealth to Macau… That is not true, because this wealth is only for a few.” He added “It is not helping those that are suffering.” The protestors’ grievances varied from new penalties for illegal motorcycle parking, inflation (especially ever-growing rents for the working class), government corruption and mainland Chinese workers being imported into the territory that they contend suppress wages for Macanese.

Poorhouse payouts
In mid-October, Social Welfare Bureau (IAS) President Ip Peng stated that his body had paid 15 million patacas to 5,500 under privileged households as a special living allowance. Ip said the IAS was mainly targeting three types of groups: Single-parent families, the chronically ill and the handicapped. On average, each household receives 2,545 patacas monthly. Macau’s inflation rate for August was a steady 6.42 percent. Ip added that similar such payments for the above groups had been made twice before in recent years.

Motorbikes lead pack
The number of licensed vehicles in Macau as of the end of September rose eight percent from the year before: Standing at a total of 173,020, according to the Statistics and Census Service. Motorcycles and light private vehicles accounted for 52 percent and 41 percent of all vehicles registered, respectively.

BOCOM branches out
One of the largest banks on the mainland, the Bank of Communications (BOCOM), opened a Macau branch earlier this month. In recent years, BOCOM’s business strategy has involved expanding into markets outside of mainland China such as Hong Kong where it launched an initial public offering (IPO). As of the end of September, the bank’s total assets were 2,224.2 billion yuan (MOP 2,384.7 billion) alongside deposits and loans of 1,611.3 billion yuan and 1,087.9 billion yuan, respectively. BOCOM was established in 1908 and seeks to become a leading corporate financial institution. Its primary categories of service are retail banking, corporate banking and capital markets.

Unemployment in Macau?
Macau’s unemployment rate stood at 3.1 percent from the July to September, remaining flat over the previous June-August term, according to the Statistics and Census Service. The July to September term saw unemployment decrease 0.7 percent over the same period in 2006. Macao’s total labour force was estimated at 317,500 for the July to September period, the figures showed. Macau has a total population of 528,000.

Lion’s roar
In mid-October, the MGM Grand Macau revealed its legendary golden lion statue – the first sight patrons will see upon arriving at the casino. On hand at the unveiling were Managing Director of MGM Grand Paradise Ltd. Pansy Ho, Daisy Ho, its director, and MGM Grand Macau President Bob Moon. The Grand lion has been an icon at MGM’s flagship casino in Las Vegas and stands 10 metres high and weighs 63 tonnes. It is made of bronze.

Asian hold ‘em!
Grand Waldo Casino – a subsidiary of Galaxy Casino S.A. – and First Impression Ltd. recently presented the “The PokerStars.net Asia Pacific Poker Tour Macau: Asian Poker Open”, the first No-Limit Texas Hold’em poker tournament to be held in Macau. The venue is the opulent Grand Waldo Casino from 22-27 November 2007, this will be the first time ‘No Limit Texas Hold’em’ poker is played live on Chinese soil. The Asian Poker Open is a major stop on the Asia Pacific Poker Tour – a yearly series of televised No Limit Texas Hold’em poker tournaments held regionally. The exciting card game of No Limit Texas Hold’em attracts many fans at casinos as well as huge TV audiences around the world. The Asia Poker Open is a six-day poker event featuring a US$ 2,500 (MOP 20,085) buy-in main event, and a US$ 15,000 “High Roller” buy-in, as well as other special side events. The estimated prize pool for the US$ 2,500 main event is US$ 600,000, with the victor reaping a potential first prize of US$ 170,000. The estimated prize pool for all events exceeds HK$ 10 million (MOP 10.3 million).

BMO downgrades Las Vegas Sands Corp.
BMO Capital Markets’ Jeffrey Logsdon downgraded gaming juggernaut Las Vegas Sands Corp. (LVSC) citing its high stock price. The analyst reduced LVSC’s stock rating from “Market Perform” or “Neutral” to “Outperform” or “Buy” because it surpassed his target price of US $143.00 (MOP 1,142.80) per share. LVSC’s share price is up more than 61 percent from the start of the year. Logsdon stated: “The market’s enthusiasm for its new projects (Macau, Las Vegas , Pennsylvania , and Singapore ) may drive the stock to higher levels but we believe investors should await a lower price to put new or additional money in [LVSC] common stock”. He said his target price “is as aggressive as we can be, even with good news expected from existing and soon arriving projects”.

Galaxy giveaway
Galaxy Entertainment Group’s StarWorld Hotel recently awed guests and visitors with its ‘All Star Week’ during the October First Golden Week with star performances and the ‘StarWorld Million-Benz Lucky Mega Slot’ early last month. In mid-October, the winner was presented with the grand prize – a sparkling new Mercedes Benz. The winner, a local resident, averred “The lucky draw ‘StarWorld Million-Benz Lucky Mega Slot’ was packed full of surprises and the Mega Slot really gave me and my friends something to remember. I was so happy to win that beautiful car, and I think the StarWorld Loyalty Programme is fantastic. I was also very impressed by the glamorous and exciting gaming hall atmosphere at StarWorld, so I will be back soon to try my luck again at StarWorld!”

Pool over 2,000 strong
In late-October, Ponte 16 held its first recruitment fair at the Macau Tourism and Casino Career Center on Taipa, and attracted above 2,000 local applicants (as they are the only ones that can apply for such posts) for hundreds of opening in casino operations, information technology, marketing and general operations. “We are a close-knit company, instilling upon all our employees the culture of ‘we are a family’, and giving each and everyone a strong sense of belonging and ownership” stated Vice President of Human Resources and Training Cynthia Ong.

Sands trap
Sheldon Adelson’s Las Vegas Sand Corp. (LVSC) experienced a US$ 48.5 million (MOP 387.8 million) for the third quarter of this year, owing to high pre-opening related expenses for the Venetian Macao in Cotai (opened on 28 August) and preparations to open The Palazzo in Las Vegas (on 28 December). LVSC also has plans for additional properties in Macau, Singapore and the US. The company’s loss for the above period contrasts with a US$ 77.3 million during the same timeframe last year. Also for the said period, adjusted net earnings were US$ 41.8 million compared to US$ 117.6 million. LVSC also faced an increase of US$ 27.6 million in depreciation and amortisation expenses for the third quarter of 2007.

Casinos form joint database
Five local casinos announced they are customers of Central Credit, a subsidiary of Global Cash Access Holdings, Inc. (GCA) – a provider of cash access services. Central Credit will provide the local casinos with proprietary information of gaming patrons in terms of their credit history and transaction data. The local gaming entities that have signed on are Sands Macao, Venetian Macao, Wynn Macau, Galaxy StarWorld and the soon to open MGM Grand Macau.

Floating Ho’s boat
The iconic Macao Palace floating casino has been closed for repairs. Stanley Ho’s SJM gaming company which owns the vessel stated it would soon be sent to mainland for repairs. The Palace’s seemingly temporary closure brings the number of local casinos from 27 to 26. Seventeen of the 26 casinos are run by Ho’s SJM, five by Hong Kong-based entertainment group Galaxy, two by Las Vegas-based gaming giant Venetian and one by the other Las Vegas magnate Wynn and one by Australian publishing group PBL.

Big baccarat reward
Late last month, the 3rd SJM International Real Players Baccarat Tournament concluded at the Grand Lisboa Macau, with nine players fighting to the finish. The tournament has prize money of over HK$ 20 million (MOP 20.6 million) – the biggest such purse in Macau with the top qualifier in each preliminary round receiving HK$ 100,000. Winners from rounds four to nine received HK$ 200,000 each with third place receiving HK$ 1 million, HK$ 2 million for second place and a HK$ 15 million cheque for the overall winner. SJM’s head Stanley Ho stated: “With this tournament, we have given new significance to the game of baccarat by giving pleasure to all who have been involved in the playing of the game, and by creating funds that can give help and happiness to deserving people in Macau society”. SJM also indicated that it would donate winnings from the recent Celebrities Charity Baccarat Tournament to three local charities – Caritas de Macau, Macau Social Services Centre and Special Olympics Macau – to the tune of HK$ 100,000 each.

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