Alright Degenerates- I posted a small little snippet a day or so ago about BFT. I wanted to do a bit of DD on BFT but also wanted to highlight something that was brought to my attention by a degenerate gambler. Lastly, I wanted to compile some good little snippets that have been put together by some other members as well as from the investor presentation. Before reading further please understand the major Risks.
This is SPAC with ~10.00 NAV, if the deal falls through it could drop to 10.00 USD
The warrants could be very lucrative but they can be called and if a deal fails to materialize, these can become worthless.
If you're ok with the above risks, continue reading.
Keep in mind that this merger is not complete, but the terms of the deal have been provided to investors and we will be able to either vote yes for the deal or vote no and redeem our shares in BFT for 10.00 cash. So there is downside to this play should the vote not go through or should the two entities terminate the agreement. Right now the downside is ~3 dollars per share according to the close price from today.
Deep Customer Base with deep ties to gambling/betting industry with Deep penetration in Europe and growing customer bases around the world. Gambling is a tricky business and regulated differently than other industries. Many big players have avoided the industry and Paysafe has a great reputation and has become one of the early movers in the industry. The following are some notable customers.
----------------------------------------------------------------------------------------------------------------------------------------------------- I actually know Paysafe and the usage quite well. PayPal has many restrictions in Europe regarding iGaming , so does Square. This is a big play on iGaming for those that aren’t aware. I was a mid- high stakes online poker player through the 2010-2018. Played a variety of sites. : iPoker; PokerStars, Paddy, MicroGaming, 888, Party. Why so many sites? Because I was always on lookout for where the action was, if a big whale sat down at one online casino; you bet your sweet ass I’m there. So let me give you my take as a consumer that’s probably spent over $100,000 in transaction fees personally on Paysafe. This was one of the cheapest and fastest ways to move money around online. Unlike Stripe this which is against risky business such as CBD and gambling, paysafe is actually one of the leading payment providers in both UK/AUS / Ireland for iGaming. Big example is William Hill, Bet365, Bwin. Now why would you want to move money online around as a gambler ? Well, Visa/MC charge close to 50%->75% more, online casinos = the merchant. They don’t wanna pay that, and in fact put limits on this type of payment processor. (Your visa’s credit cards etc). If a punter deposits / withdraws frequently, the online casino could literally be on the hook for like 20-30% of the turnover throughout the gambler’s period. (This assumes the gambler doesn’t lose all his money per deposit. Imagine you’re a professional sportsbettor, you’re not loyal to one site. Different spreads / odds are offered on every site, you want to be able to move your money from one to another quickly and cheaply. Arbitrage opportunities do exist in sports betting as bookmakers hedge their books to minimize risk, diff frequencies of bets occur on each sports book; you get the idea. For recreational punters, it’s simple: some sporting events that are smaller simply don’t exist on one site that exist on another. Eg. Perhaps you using Pinnacle / 10dimes for low spreads on high volume events, but perhaps you want to gamble on live events on bet365 on another day, and bet ponies on Hill. What if you only have $5000 ? Giant pain in ass to deposit money to each site, paysafe lets you move it around easily. Should you use visa, you may get blocked from depositing on various sites; Bodog, WHill, Bet365 just to name a few. Withdrawals and clearing deposits with bank transfers or checks takes days-> weeks and gamblers ain’t gonna wait for that shit. You can also buy prepaid paysafe cards from stores if you don’t wish to use your real credit card; and load that shit up. One of the biggest markets this is prominent in is South east Asia, they are some of the biggest punters and fucking loving gambling. Looking at you pinoys, Indonesians, Malays. Not everyone wants to fly to Macau to get their rocks off. As much as this is a play on FinTech, please understand this company has more or less the best Payment service on online gambling globally. -----------------------------------------------------------------------------------------------------------------------------------------------------
Guess the Company #3 (ticker trivia / due diligence)
Previously on Guess the Company Hi fellow kids, I'm back again today with yet another DD where I reveal the ticker at the end rather than the beginning. Let's see how many clues it takes for you to correctly guess today's company: -This company's Q2 2020 revenues dropped 98% compared to a year ago, and its quarterly EPS plunged from $1.24 in Q2 2019 to a loss of ($1.07) in Q2 2020. -Despite these revenue numbers, shareholders were barely fazed and the stock continued to trade sideways between $40-$50 from June to November 2020 -If you bought $10000 of this stock at its all time low in March 2009, you would be receiving about twice that much in annual dividends up until it was suspended in Q2 2020 due to the pandemic -As part of the terms of a $1.5 billion credit facility, this company is not permitted to pay dividend until Q4 2021 unless it can maintain a $1 billion+ liquidity after paying the dividend. -During the height of the financial crisis in 09, this company was reportedly losing $1000 per *second* -When this company was about to go bankrupt, its owner dug into his own pockets and loaned the company $1 billion -Before his company's stocks took a nosedive in 2008, the owner of this company was briefly the 3rd richest person in the USA behind only Bill Gates and Warren Buffet -Although this company is based in Paradise, NV, the majority of its revenues comes from China. More specifically, Macau, China. -In 2010 this company built a $6.88 billion resort in Singapore, billed the world's "most expensive standalone casino property" -With annual revenues of $14 billion, this company is the largest casino operator in the world by market capitalization Have you made your guess yet? If your guess was LVS , you are correct! Outlook for LVS: There are speculations that LVS might sell its Las Vegas Strip properties to a REIT and then lease them back, a move that would raise about $6 billion and allow it to further focus its efforts in Asia where most of its revenues come from. Although my outlook for LVS is bullish, I expect this stock to trade mostly sideways until later this year or early 2022 when it resumes paying dividends to shareholders. OPTAP: $75
The Macau market and the Si14 sports betting exchange.
The Macau market and the Si14 sports betting exchange. Macau, which has a history spanning more than 3 centuries, is known as "Eastern Monte Carlo" and "Eastern Las Vegas". Games are now the main industry that generates Macau's main (about 70%) revenue. Recently, Macau's gross revenue from gambling establishments has sometimes even exceeded the Las Vegas Strip, making it the largest gaming city in the world. The Government of Macao has not issued regulations governing the concession and operation of online gambling (defined in the Macao Gambling Act (Act 16/2001) as interactive gambling), nor has it started bidding for these concessions. Si14 AG is localizing the platform in Chinese and will be represented on the Chinese market. The Chinese market allows the Si14Bet platform to obtain maximum liquidity. Dear investors, You also have the opportunity to become a co-founder of Si14 AG. Our company is conducting the second investment stage of selling the company's share. You can leave a request for consultation at [email protected]. Follow our news and join in the success story. For more information, please visit https://Si14bet.io #Si14 #betfair #bet365 #Si14Bet #oods #livebetting #soccerbetting #bettingtip #soccerbetting #bookies #bettingexchange #rich #bookmaker #sportsgambling #millionaire #billionaire #makemoney #moneyonline #bettingexchang #bettingexperts #onlinesport #casino. https://preview.redd.it/3hkz5nld0c461.png?width=960&format=png&auto=webp&s=24177caf3c9b1dec911de3faac5ffe40937b3f50
News Heading into Friday July 24th 2020 NOTE: PLEASE DO NOT YOLO THE VARIOUS TICKERS WITHOUT DOING RESEARCH. THE TIME STAMPS ON THE FOLLOWING ARTICLES MAY BE LATER THAN OTHERS ON THE WEB. THE CREATOR OF THIS THREAD COMPILED THE FOLLOWING IN A QUICK MANNER AND DOES NOT ATTEST TO THE VERACITY OF THE INFORMATION BELOW. YOU ARE RESPONSIBLE FOR VETTING YOUR OWN SOURCES AND DOING YOUR OWN DD.
China tells US to close consulate in Chengdu in growing spat
CSTR ($10.90) CapStar Financial Holdings and Gaylon Lawrence Announce Collaborative Agreement
IO) ($2.85) ION announces first 3D multi-client program in Mauritania
BKYI ($0.67) Identity, Security and Access Management Solutions Provider BIO-key Completes $24.8 Million Public Offering
DXC ENGIE IT Teams with DXC Technology and ServiceNow to Launch Certified Global Center of Excellence
MARA ($0.99) Marathon Patent Group Announces Pricing of $6.0 Million Upsized Underwritten Public Offering of Common Stock
APM ($3.66) Aptorum Group Becomes the First Nasdaq Listed Biopharmaceutical Company Admitted to Trading on Euronext Paris Stock Exchange Under the Ticker Symbol APM
OCX Oncocyte to Hold KOL Webinar Showcasing New Data and Real World Usage of DetermaRx™
RDUS ($13.90) Menarini Group and Radius Health Announce Global License Agreement for the Development and Commercialization of Elacestrant
THTX ($3.19) Theratechnologies Reports That Tesamorelin Improves Liver Health
UXIN ($1.42) Uxin Reports Unaudited Financial Results for the Transition Period from January 1 to March 31, 2020
BIOL ($0.45) reported (3) new insider trades (acquisitions) to the SEC
ENLC ($2.54) EnLink Midstream to Participate in Investor Conference
PSTV ($2,46) Plus Therapeutics to Present at the YAFO Access China Partnering Conference on July 30, 2020
BTE ($0.52) Baytex Conference Call and Webcast on Second Quarter 2020 Results to be Held on July 30, 2020
HEXO ($0.73) HEXO vapes now available across Canada
GWGH ($6.76) reported 6 new insider trades to the SEC
Si14 Betting exchange partnership in China. Under the signed memorandum of cooperation Si14 AG in China - Si14 Bet platform gets the maximum liquidity on the betting exchange, provided by a network of casinos in Macau, as well as kiosks for bets to be placed in China and Hong Kong. Dear partners! Si14 AG invites partners for mutually beneficial conditions in your regions and countries. Si14 Betting exchange is actively expanding the betting market, developing a network of its representative offices. You can leave an application to open a representative office at [email protected] Dear investors, You also have the opportunity to become a co-founder of Si14 AG. Our company is conducting the second investment stage of selling the company's share. You can leave a request for consultation at [email protected]. Follow our news and join in the success story. For more information, please visit https://Si14bet.io #Si14 #betfair #bet365 #Si14Bet #oods #livebetting #soccerbetting #bettingtip #soccerbetting #bookies #bettingexchange #rich #bookmaker #sportsgambling #rich #bookmaker #sportsgambling #millionaire #billionaire #makemoney #moneyonline #bettingexchang #bettingexperts #onlinesport #onlinesport #casino https://preview.redd.it/qj7pq180fsw51.jpg?width=803&format=pjpg&auto=webp&s=92aabc904a4a34fa675a206291f6dcc4f5351079
Investing News Morning Roundup – October 27, 2020 Virus cases are surging, setting records in the US as stimulus talks seem to come and go. The market is in the thick of earnings season and this week will see about one third of the S&P 500 companies (186) reporting earnings. Advanced Micro Devices acquiring Xilinx in $35 billion deal Advanced Micro Devices (AMD) is acquiring Xilinx (XLNX) in a $35 billion deal in a very complimentary deal for AMD. AMD is paying about $143 per share, a 25% premium to its closing price, in an all stock deal. Xilinx sells more profitable products and upon closing the deal will immediately be accretive to AMD and give AMD a much broader array of product offerings. Xilinx is the leading provider of adaptive computing solutions and its products will help AMD in its battle against leader Intel (INTC). Intel’s recent problems make the acquisition that much more important for AMD. “This is truly a compelling combination that will create significant value for all stakeholders, including AMD and Xililnx shareholders who will benefit from future growth and upside potential of the combined company,” AMD’s CEO Lisa Su. Very good news for AMD’s stock. Facebook says “game on!” to cloud-streaming games on its platform Facebook (FB) sees lots of its users playing video games online and wants a piece of the action. Facebook Gaming is launching cloud-streamed games on the Facebook app and on browser versions on the platform. The move by Facebook will expand its content library to more complex, multi-player games. Facebook’s model will be free to play, contrasting with Google’s (GOOG) Stadia and Amazon's (AMZN) Luna, both of which are subscription services. In a blog post, Facebook said, "Our first set of games available this week include Asphalt 9: Legends by Gameloft; Mobile Legends: Adventure by Moonton; PGA TOUR Golf Shootout by Concrete Software, Inc.; Solitaire: Arthur’s Tale by Qublix Games; and WWE SuperCard by 2K." Analysts have cautioned it will take some time for Facebook to reach critical mass and Amazon’s disastrous rollout of Luna gives reason for caution. Nevertheless, the news is positive over the long term for Facebook’s stock. Tencent wins in court, US govt cannot prohibit WeChat in US The US government lost its bid in court to prohibit Tencent’s (TCEHY) WeChat from being used in the US. The government lost its bid for a stay on a lower court ruling barring the government’s restrictions. The US is seeking to bar the app from the Google (GOOG) and Apple (AAPL) app stores claiming national security concerns. The claim from the government is that Tencent is close the Chinese Communist Party and the app can be used to disseminate propaganda to US citizens. The court has agreed with Tencent that the restrictions would violate the free speech rights of millions of Chinese Americans. Great news for Tencent’s stock. Get me some Ant!Ant Group closing IPO books early due to soaring demand Ant Group’s IPO has attracted unbelievable demand from investors, with its plan to raise $34.5 billion in the biggest IPO ever. With such strong demand, the company will be closing the deal books one day earlier than planned. Once the deal is closed, Ant Group, one-third owned by Alibaba (BABA), will have a market cap of $315 billion, greater than that of JP Morgan (JPM). Las Vegas Sands looking to sell properties, saying “see ya!” to Vegas Las Vegas Sands (LVS) is exploring the sale of its casinos in Las Vegas as the world’s largest casino operator looks at a change of focus. Such a move would see Sands focusing on its Macau operations which have been in focus lately. Sands generates most of its revenue in Macau and Singapore. Press reports say the company is seeking about $6 billion for the Las Vegas properties, though negotiations are in an early stage. Any confirmation of a sale could be very positive for Sands’ stock.
As requested, I will provide DD for NAT, DHT Holdings and MGM based on votes from my previous thread. I'll start with the tankers. (Let me note that I do not expect the general market trend to be positive for the next few weeks) Preface: Positive Virus news is generally bad for Tanker company share prices. NAT Current share price: $6.12 EPS Q1 2019: $0.04 EPS Q1 2020 Estimate: $0.26 Earnings: 5/18 (Per NAT website, Thanks u/Nice_Block) NAT operates Suezmax size tankers, the next step down from VLCC, and daily prices for Suezmax's are considerably less than VLCC. Current spot price is up 141% at $3.92 bpd from March of 2019 to March of 2020. I think that this earnings estimate is roughly accurate, but suezmax vessels have more room for positive price movement as more and more storage is filled to capacity. Suezmax ships allow producers more maneuverability and fluidity to store their oil, as such, turnover rates are higher than VLCC vessels. Revenues at current prices indicate an earnings estimate closer to $0.36. This is the high end of earnings estimates. Additionally, demand for oil consumption is not likely to improve soon. If anything, a slow reopening of states without ports will not affect tanker company bottom lines and will extend the operating duration of oil producers in the permian. Keep in mind, if oil consumption does not increase, wells will either shut down, or more likely, prices will go negative again. This may have some effect on spot price for tanker transports. That said, spot prices are not likely to diminish significantly in the near future. As a bonus, NAT recently (like yesterdayish) approved a buyback program to take advantage of increased revenues. This is the best news for NAT holders at this time. Their true intentions will be reflected in the earnings call. Price Target: $8 in the short term. If quarantine continues through June with no oil production cuts, I would expect at $10+ is possible, but unlikely. Historical action levels: https://imgur.com/a/dzsAZop One week chart showing some consolidation for a potential breakout: https://imgur.com/a/10DZWE7 Note - I suggested this as a bullish play last weekend, and as such my $8 price target was hit on Tuesday. This ship may have already sailed. Pun intended. I would find another trade. Recommendation: If you are dead set on an NAT play, shares at a reduced price through earnings, or options with expiry longer than 45 days out purchased next week. DHT Holdings Current share price: 7.10 EPS Q1 2019: $0.13 EPS Q1 2020 Estimate: $0.57 Earnings: 5/5 DHT operates operates exclusively VLCC tankers, of which the majority are on spot price rental. Current spot price for VLCC tankers up to 180k/day, up from an average of 19k/day this time last year. This is an over 9x increase. NAT is also currently operating more tankers on spot price rental, increasing volume under spot price contract over last year. They currently have 23 of 27 operating on spot pricing. Historical action levels: https://imgur.com/a/X3W3kD4 One week chart showing downward channel (Im not sure this trend is completed yet) before potential breakout: https://imgur.com/a/CYCaYcv Recommendation: I think the resistance levels for DHT are more relevant than those of NAT, and are also more realistic to be beaten. Calls mid week for EOW earnings at least 2 weeks out. General market sentiment is important for this trade. MGM Current share price: 15.01 Summary of MGM's plans to reopen casinos: https://www.usatoday.com/story/travel/destinations/2020/04/30/mgm-plans-reopen-las-vegas-bellagio-new-york-new-york/3061417001/ I would expect the mayor of Las Vegas to attempt to reopen the tourism to the city along with President Trump's guidance. If they are able, they will reopen soon. They likely will not have large scale shows or concert events to draw in customers, but gambling will be open to some extent. I do not expect casinos to see a large influx of patrons, and this will end up being a net negative for them in the coming months as their expenses will increase more than revenues. They may even potentially have to re-close if Covid testing reveals an uptick in cases in the Las Vegas area. That said, their saving grace is Macau, where a significantly large portion of their income is generated. China expects tourism to Macau to increase, but I would take that with a grain of salt. Given MGM's recent meteoric rise to nearly $18 per share, I think they fall into the sentiment of the rest of the market and will suffer in the coming month. I expect the share price will visit mid-april prices of $13, or potentially lower following a general trend with SPY. Luckily, If you see these prices, I consider MGM a very long term and stable play. They have enough cash on hand to last an entire year with no revenue; a situation that is uncommon at this time. In general, event or discretionary based spending, hospitality and travel will be the last to recover, but this is a commonly assessed sentiment. Historical action levels: MGM was not surprisingly rejected by the historical support level of $17.50 this week https://imgur.com/a/aoRNvk8 5 day chart does not provide any major price movement indication. Recommendation: Sell shares, do nothing until share prices revisit mid-April levels. As always, feel free to comment and tell me why I'm wrong. EDIT - I accidentally switched which size tanker each company uses, it has been corrected - Shoutout u/kindlyblacksmith
Eyes On Stimulus Developments Again Investors are still largely focused on new twists and turns with stimulus efforts in the U.S. Last night, President Donald Trump said talks had resumed on an aid package for the struggling U.S. economy, while House Speaker Nancy Pelosi and Treasury Secretary Steven Mnuchin are expected to talk once again. Global stock markets have started the day off with a dose of optimism. The Shanghai Composite Index rose 1.7% following a strong read on services activity in China and the SZSE Component Index was up 3.0%, while Hong Kong's Hang Seng fell back 0.3% and Japan's Nikkei slipped 0.1%. European stocks are largely higher despite sluggish PMI data, with the Stoxx 600 Index gaining 0.2%. France's CAC 40 and the U.K.'s FTSE 100 are both in positive territory in mid-day action. Meanwhile, U.S. stock futures are setting up for a positive open, with S&P 500 futures up 0.4% and Dow Jones futures 0.3% higher. Crude oil stays on track for big week Oil (CL1:COM) is poised for its biggest weekly gain since May, even though prices have tracked back just a bit. Operators in the Gulf of Mexico have closed off about 92% of production ahead of Hurricane Delta as the storm barrels toward Louisiana. Yesterday, OPEC forecast global oil demand will keep rising until around 2040, when it will plateau at about 109.3M bbl/day, or about 10% above the level of production in 2019. Later today, traders will get their hand on the latest Baker Hughes U.S. oil rig count report. In early action, WTI crude oil futures -0.8% to $40.86/bbl and Brent crude -0.3% to $43.20/bbl. AMD seeking to buy Xilinx in latest big semiconductor tie-up Advanced Micro Devices (NASDAQ:AMD) is in advanced talks to buy rival chip maker Xilinx (NASDAQ:XLNX) in a deal that could be valued at more than $30B, WSJ reports. Earlier talks are said to have stalled before recently restarting, and the latest deal under discussion could come together as soon as next week, according to the report. A deal for Xilinx would raise AMD to a more even competitive footing with Intel (NASDAQ:INTC) and give it a bigger position in the growing telecom and defense markets. Golden Week traffic in Macau disappoints Traffic in Macau fell 85.7% during Golden Week to come in well short of most expectations within the industry. Of the 139,280 visitors to enter during the holiday week, 97,126 came via the Gongbei Border Gate, 4,190 by ferry and 7,149 by plane. JPMorgan reset expectations on a Macau recovery after the Golden Week disappointment. "Choppy demand and dwindling hope of 'return to normalcy in 2021' make us acknowledge the sector's risk-reward isn't as attractive as we had envisioned, despite seemingly undemanding valuation (on 2022, not 2021)," updated the firm. Earlier this week, the Macau sector received some good news when Bernstein Research predicted that all six casino operators will retain their licenses, although the government is likely to impose additional economic conditions. The firm doesn't think the current tensions between Washington and Beijing will prevent U.S. operators from staying in Macau. Nikola talks up hydrogen potential Nikola (NASDAQ:NKLA) showed off its prototypes to the hydrogen industry yesterday at an event that also covered the company's patents and strategy to be a technology integrator. The presentation coincided with National Hydrogen and Fuel Cell Day 2020. Nikola noted it has developed core IP related to, among other things, vehicle integration and hydrogen storage and fueling, and continues to work with its world-class partners to develop next-generation standard fueling hardware and advance hydrogen fuel cell-based transportation. "Nikola is creating an ecosystem that integrates next-generation truck technology, hydrogen fueling infrastructure and maintenance. By removing commercial trucks from the carbon equation, Nikola is fulfilling our mission of leaving the world a better place," said CEO Mark Russell. Shares of Nikola are up 2% premarket Takeda in group trial for COVID-19 hyperimmune convalescent plasma treatment Japan's Takeda (NYSE:TAK) is part of a group of companies testing an experimental COVID-19 convalescent plasma treatment, derived from those having recovered from the disease. The "hyperimmune" drug combines antibodies from multiple recovered patients, vs. typical convalescent treatments derived from single patients. Takeda, Emergent BioSolutions (NYSE:EBS), CSL Behring (OTCPK:CSLLY) and Grifols (NASDAQ:GRFS) are gathering antibodies in the government trial, funded by the National Institute of Allergy and Infectious Diseases; it could be completed by year-end. DOJ eyes cryptocurrency threats The Department of Justice said in a new report that law enforcement is hampered by the global nature of digital coins and the lack of consistent regulation across regions. Cryptocurrencies in general are called detrimental to the safety and stability of the international financial system due to the opportunities for rogue nations, criminals and terrorists to skirt reporting requirements. "Current terrorist use of cryptocurrency may represent the first raindrops of an oncoming storm of expanded use,” stated Attorney General William Barr's Cyber-Digital Task Force. The task force warned that cryptocurrencies provide bad actors with the means to earn illegal profits and become a threat to national security. The DOJ's larger goal with the report is to lay out a framework for cryptocurrency enforcement. China Services PMI runs hot China September Caixin Services PMI came in at 54.8 to top both the consensus mark of 54.3 and the 54.0 reading for August. Services PMI has now increased for five straight months, and the latest rate of expansion was among the highest recorded over the past decade. Growth was supported by a marked rise in total new business, though new export work continued to decline. A sustained rise in overall client demand led firms to expand their payrolls for the second month in a row amid increased capacity pressures. Companies also retained a positive outlook regarding activity over the year ahead, with business confidence improving since August. Chinese funds targeting Ant IPO draw $9B from millions of retail investors Five Chinese funds targeting the upcoming mega-IPO of Ant Group (NYSE:BABA) sold out in days, having cumulatively raised about 60B yuan - or about $8.93B - from more than 10M retail investors. The funds launched Sept. 25 to raise 12B yuan each and invest up to 10% of assets to buy shares in the Ant IPO, aiming to raise about $35B in a Hong Kong/Shanghai dual listing and value the company at more than $250B. Two of the funds hit their target even before a week-long holiday that started Oct. 1; Ant's Alipay says today the other three sold out as well. What else is happening... LSE (OTCPK:LDNXF, OTCPK:LNSTY) to sell Borsa Italiana to Euronext (OTCPK:EUXTF) for €4.3B. NXP Semiconductors (NASDAQ:NXPI) shoots to 52-week high after strong preliminary Q3 numbers. GameStop (NYSE:GME) soars after Microsoft (NASDAQ:MSFT) development. Disney (NYSE:DIS) moves 'Soul' to streaming, in theaters' latest loss. Today's Markets In Asia, Japan -0.1%. Hong Kong -0.3%. China +1.7%. India +0.8%. In Europe, at midday, London +0.7%. Paris +0.4%. Frankfurt -0.05%. Futures at 6:20, Dow +0.4%. S&P +0.4%. Nasdaq +0.3%. Crude -0.8% to $40.86. Gold +1.2% to $1918.70. Bitcoin +2.9% to $10890. Ten-year Treasury Yield -2 bps to 0.765% Today's Economic Calendar 9:00 Fed's Barkin: “Community Conversation: Resiliency of the Economy” 10:00 Wholesale Inventories (Preliminary) 1:00 PM Baker-Hughes Rig Count
If you’re new to Coronavirus research, start here…
Feb 19, 2020, updated periodically...Unfortunately there’s not just one link you can use to get an estimate of the real numbers of infected, or of the seriousness of this outbreak, and you will have to do some digging of your own. But here are a few points to consider and research for yourself:
Name. The names 2019-nCoV, COVID-19, SARS-CoV-2, and novel coronavirus all basically refer to the same thing, either the new virus or the disease it causes. (The WHO calls the virus SARS-COV-2, and the illness COVID-19.)
Family. It is a type of SARS but is much worse than SARs; experts have also called it "worse than Ebola" in terms of how fast it is spreading.
Re-infection. Getting sick with it more than once is a possibility; "recovered" patients may even be contagious or test positive for the virus after so-called "recovery." Link
Spreading without symptoms. People are able to be asymptomatic or presymptomatic, but still contagious, for weeks. Studies have shown that an infected person may be shedding virus for weeks after "recovery."
Ineffective quarantines. Quarantines are being done for 14 days in many countries, even though it has been documented that 38 days would be more effective. The word quarantine comes from the Italian quarantina giorni, a space of 40 days. We need to get smarter about how long people are quarantined.
When Did It Start? By Nov 2019, officials had briefed the US White House on a virus that was sweeping through Wuhan, China. Link
Fast-spreading. Between 2/19/20 and 5/1/20, cases grew from 1000 to over 3 million. Many countries do not have the capability to adequately test people. For instance it could become very widespread in parts of Africa without ever making the news.
Symptoms and Treatment. There is no cure; treatment focuses on the symptoms like the cough and fever. The symptom list is long and varies from patient to patient but the majority of them have cough and fever and the serious cases develop pneumonia, which is what kills them. Secondary infections are also common, and those patients get antibiotics, but, antibiotics don't do anything against a virus; they are used solely to treat additional complications. The symptom list seems to be ever-changing: a March 7 report showed that 22% of patients had diarrhea, nausea, vomiting, and/or abdominal discomfort before respiratory symptoms (another report said it was about 50%). One first-person account said that a rash was her only symptom. CNN aired an interview with US nurses on the frontline who said that in some cases the only symptom prior to death was that the tissue around the eyes turned red (not the eyes, but the face area around the eyes).
No vaccine. Labs around the world are racing to develop a vaccine but that is, at best, months away; some say a vaccine may be impossible due to how the virus tricks the body into making more virus. And keep in mind there was a SARS outbreak nearly 20 years ago and we still don't have a vaccine for that.
Lives on surfaces. Many redditors have asked about whether it is safe to accept packages from China. Studies have shown that the virus can survive on surfaces for at least 9 days under certain conditions, and up to 27 days in other conditions.
"Do I have it?" Many redditors have posted questions saying they feel ill and want to know if they have it. If you think you have it, call a doctor or hospital; reddit is not the place for a diagnosis. The hospital will want you to wear a mask when you come in, and will want you to call ahead so they can isolate you from other patients.
"How do I avoid it?" Many redditors have asked what they can do to avoid catching or spreading the virus. Standard virus protocol applies: avoid close contact with people who are sick; stay home when you are sick; cover your coughs and sneezes with a tissue then throw the tissue in the trash; frequently wash your hands (especially after going to the bathroom, before eating, and after blowing your nose, coughing or sneezing) using soap and water as hot as you can stand it for at least 30 seconds (the scrubbing under running water is important; a 5-second fingertip wash is inadequate); carry hand sanitizer gel with you for times when you can't wash your hands; avoid touching your eyes, nose, and mouth especially in public; disinfect frequently touched objects and surfaces using a household cleaning spray; etc. The US has recommended against all travel to China [update: against all international travel]. Some redditors started avoiding air travel, public transportation, and large crowds and gatherings at the end of January 2020.
Other reasons why we don't believe the official numbers
Information Warfare. In the earliest days of the revelations about the virus, a deliberate disinformation campaign was started, to get people to believe two major falsehoods: 1) “It’s not as bad as the flu,” and 2) “Everything is under control and will be back to normal soon.” You will see this repeated thousands of times around reddit, other social media, and in mainstream media in the US and elsewhere. Even US doctors are repeating this propaganda, almost verbatim, to any news reporter who asks. Read more about China's 10 million influence agents at Link
Naysayers. Historically unprecedented efforts have been made to downplay the virus - often by focusing on the supposedly low fatality rate, or the supposed recovery rate. It's far too early to know what "recovery" actually means. For instance, scientists from Nanjing Medical University and Suzhou Hospital have said males who "recover" may be infertile. There is also well-founded concern about permanent lung damage, and possible chronic joint/muscle pain which could be debilitating and lifelong.
Pre-determined case rate. In early Feb 2020, someone demonstrated that the rise in cases was very predictable from day to day; the data curve was "beautiful" in that it was flawless and perfect, unlike the real world. He was able to predict, a day in advance, with astonishing accuracy, how many new cases would be announced by China the following day. The implication was that the data only moved like that because it was pre-determined before it happened; in other words the real numbers were released in a slow trickle in order to manage the public's reaction.
Under-reporting. There are indications, including first-hand reports from doctors, that the "official" numbers of confirmed dead are grossly under-reported. Link
Estimates. In Jan. 2020, some people were thinking the infected number was over 150,000 (back when China was saying it was under 10,000). It's hard to get a reliable number, but there are clues pointing to a worrisome amount of cases. Researcher models have shown estimates of a multiplier for a realistic number that range from x4 to x35. In other words if China is announcing 75,000 cases today, some people are concerned that the real number (including those who are undiagnosed) is 528,000 up to an almost inconceivable 4.6 million. [Update: Less than 2 months later, the "official" number worldwide exceeds 3 million; if x35 holds true...I don't like that answer...]
Suspected vs. Confirmed. China also has a data set for "suspected cases," which may include people who have presented to the hospital (or to several hospitals, seeking care) with the symptoms but who were unable to get diagnosed because the hospitals were overwhelmed. Some observers consider "suspected" cases should be considered "confirmed" until there has been a negative diagnosis.
Crematorium Info. Investigative journalism in China has led to recordings of phone conversations with crematorium workers, who are desperately asking for help because they are going 24/7 and are still backed up in Hubei from the amount of dead to incinerate (imagine California and half of Texas not being able to keep up with the bodies). The employee states the number of bodies has been 4 to 5 times the usual, starting ever since Dec. 29.
Portable Crematoriums? Lu Media reported that 40 units officially described as "cabins for the disposal of garbage and animal carcasses" have aided Wuhan in the epidemic area; their capacity is 5 tons per day. Professor Ming Ju of National Taiwan University believes that these cabins are "mobile incinerators" used to process human corpses. (To expand on that: 5 tons is 10,000 pounds or 4,536 kilos. Using a rough average weight of 62 kg per adult, that's 73 adults per day, per machine, so 40 machines are capable of handling 2,920 adults per day. That's in addition to the numerous regular crematoriums which can process a dozen or more people simultaneously.) That is all speculation; it is also likely that a city on lockdown would have an enormous problem getting rid of household refuse and medical waste, in which case those mobile incinerators would come in handy for that, too.
Cell phone Subscriber Decreases. Jennifer Zeng reported a combined net loss of 15 million subscribers to three of the large cell phone companies in China, in Jan and Feb 2020 alone. Link
"Not as bad as the flu" nonsense. From Jan to March 2020, mainstream media (MSM) and social media were chock full of people conducting information warfare; their goal was to perpetuate the “official” myth that coronavirus is not as serious as the flu, and that everything will be back to normal soon. There are several other virus-related subs on reddit which are moderated by people who do not allow any dissenting views, and who only permit people to post things that have already been announced by a government. In March 2020, the US CDC Tweeted that the fatality rate of this virus is at least three times that of the flu.
CNY. Chinese New Year is a major travel holiday when people go home to spend time with their families; it is often the only time of year when migrant workers get to see their loved ones. Millions and millions of Chinese people were on the move when this outbreak began.
Ineffective City Quarantines. China announced each city lockdown up to a day or two in advance, which gave infected people plenty of time to try to flee. After Wuhan was locked down, it was announced that some 5 million people had left before it started. Many of the people trapped in Wuhan were just caught there during their New Year's travels.
Constant number manipulation. China has changed how they count cases, and has advised that if a person has tested positive for the virus but is asymptomatic (has no symptoms) then they should not be added to the list of confirmed cases.
Practically no testing in the US. In the US, the vast majority of citizens (99.99999+%) can't get tested. The CDC policy has changed several times but even now, unless you have symptoms severe enough to require hospitalization or have had close contact with a CDC-confirmed case, testing is not available for most Americans. [Update: As of 5/1/20, the US has tested approximately 2% of its population, and has over 1 million cases.]
"Self-quarantines." The US relies on self-quarantines. On 2/19/20, WSJ reported "Public health officials in the U.S. are striving to keep tabs on thousands of Americans who have quarantined themselves at home after returning from mainland China..."
States hiding data. Some states, notably Florida, were initially claiming that they couldn't legally disclose how many people have been tested. "According to the Tampa Bay Times, “state Surgeon General Scott Rivkees said the Florida Department of Health is not authorized to publish the number of people in the state being tested for the virus out of privacy concerns.” US health privacy laws contain an obvious and necessary exemption for cases that involve public health crises.
Hacked Accounts Spread Reassuring Deception. Redditors are posting that they have been getting bizarre texts from close friends and family members in China saying "situation is under control" and "we're all fine" etc. Others posted screenshots of messages from several business contacts in China who all repeated an official message practically verbatim: "Impact limited to Wuhan...Everything is under control...will be back to normal soon...thank you for your concern."
Body bags. Rumors are circulating that China has ordered 1 million body bags, and shifted factories to body bag production; someone also posted an online industrial buyer order in which someone was looking to purchase 45 million virus masks.
Monitoring. China announced a few days ago that they are "monitoring" close to half a million people who have had "close contact" with infected people. Monitoring efforts involve self-reporting plus tracking of movements based on cell phone geolocation, A.I., facial recognition technology, and mandatory checkpoints.
What leaked videos and social media posts have shown us has happened in China
Dropping Dead. There are a handful of videos that show people seeming to suddenly collapse, notably a police officer walking down the street, in social media posts circulating on Feb 19, 2020. Videos show people dead and dying in hospital waiting rooms. Other videos show dead bodies laying on the sidewalk; a young woman collapsed in a vegetable market, etc. These spread in China in Jan.; in Feb. we saw similar vids from Iran. On 2/20/20, Harry Chen PhD posted a man laying face-down in a Hong Kong mall, the implication being that he collapsed from the virus or virus-related complications.
Unprecedented Censorship Efforts. Videos get deleted almost as fast as they get posted. One leaked video shows uniformed internet police pounding on someone's door, demanding that they delete their social media post, and also that they immediately must post a retraction to apologize for spreading "rumors" or otherwise they will face legal consequences for harming social order.
Voices from Inside Hospitals. Voicemails and texts from Chinese nurses and medical workers urging their loved ones, "Do not go outside" and saying that they are totally overwhelmed with infected patients. Numerous nurses collapsing into hysterics, unable to cope with the requirement to work 22 hours a day, and the inability to leave the hospital; some have been threatened with having their medical license revoked if they walk away.
Dirty masks. Used surgical masks being resold: an old man on the sidewalk selling used surgical masks of various colors from an open box. Another video recorded surreptitiously shows a team of people inside a shop with a big pile of used surgical masks, which are being sorted, flattened, and folded. The video ended with a view of a big stack of boxes; the implication was that used masks were being repackaged for sale as new. The brand name was not legible but it featured a woman's face on the cover, and Chinese writing on the box.
Quarantine Evasions. City quarantines don't work. Videos show people climbing over head-height barricades and fences built across roads and bridges, family members handing their children across the fence, and arguments in the street when someone is discovered to have Hubei province license plates or to be speaking with a Wuhan accent.
Doors welded shut. People are being welded into their apartments in Wuhan. Some apartment buildings have had their entrances sealed, once multiple people inside are believed to have the disease. Videos showed a middle-aged, non-athletic woman attempting to scale the outside of the building by going from balcony to balcony, and she fell to her death. A small town road labeled as the "Road to Lihua" which shows a street full of residential buildings, and every single building is barricaded from the outside, thus trapping the uninfected inside with the infected and the dead.
Mobs. So-called "recovered" patients being attacked and beat up for returning to their village after being released from quarantine.
Sprayers. Numerous videos show fleets of trucks rolling through streets in China, spraying what we suppose to be some sort of disinfectant, as though there was a need to clean the sidewalks or even the air itself. China has used water sprayers for at least five years to combat pollution, but speculation is that these trucks contain some sort of chemical rather than water.
Birds. A highway shot shows hundreds of crows perched on a concrete barrier; the subtitles claim that thousands of crows have been attracted to Wuhan by the stench of death.
Checkpoints. Villages and small towns enforcing quarantines with weapons, punches, slaps, etc. A car stops at a checkpoint, hesitates, then seems to intentionally plow into a medical tent.
Arrests. Patrols of white hazmat suit workers looking for people who went outside without a mask; they get arrested and carried away.
Packed hospitals. Hospital hallways jam-packed with people standing around waiting to get tested; shoulder-to-shoulder crowding conditions, which surely served to spread the virus faster.
Pets Killed. Village patrols beating dogs to death with a stick supposedly in order to "prevent the spread of the virus," and household pets thrown down from tall apartment buildings for the same reason.
Bodies. Multiple body bags in hospital ambulances, on the floors of hospitals, and in the hallway. (Similar videos surfaced from Iran and Brazil in March 2020.)
Transportation issues. That there were enough dead at a given time that no one could respond promptly to carry away the bodies.
Paid by the body. A citizen journalist secretly records an impromptu job interview at a local crematorium, where he is told he will not be paid unless he brings in bodies to cremate. They offer 500 RMB for one body, and 200 RMB for each additional body, up to 1100 RMB a load if he can bring in 4 bodies at a time.
Failures at life-saving efforts. A man's voicemail (identified by name as a doctor, if the accompanying image is to be believed) stating that for patients who are intubated (receiving oxygen via a tube shoved down their throats), extubation (removing the tube) is rarely successful - the patients die when taken off oxygen.
Panic buying. Fights over groceries, and rice flying off the cart before the grocery store can even put it on the shelves.
Refugees. Social media video posted Feb 19, 2020 claims to show hundreds of people with suitcases and baggage fleeing over the Chinese border from Guangxi province into Vietnam. Like most other videos claiming to be about this situation, there are many responses claiming this one is fake.
Fights. A child stabbing an elderly person and another child, during a fight over a small bottle of antiseptic.
Intentional Spreading. There are videos showing various suspects who are going around intentionally spitting on things, in an apparent effort to spread the virus. Tissue boxes are provided on elevators so that a person can use the tissue to press the button, and keep their fingers clean. Videos show a family riding the elevator, and a male takes a tissue and spits on it repeatedly, then smears all of the buttons with his spit. Another video shows an older woman alone in a different elevator; she repeatedly hacks and spits intentionally all over the buttons and the inner doors of the elevator, and then after a younger woman gets on and presses an elevator button, the older woman cackles to herself. Another video shows a young woman going down the street spitting on the door handles of cars. Another video shows a young woman sneaking around an apartment complex at night, spitting on doorknobs. Many Western viewers are unable to make sense of these videos, or conceive of a thought process that would make a person want to do this.
Attacks on medical workers. Patients in hospitals pulling down their virus masks and intentionally spitting into the faces of medical workers and receptionists - multiple incidents in multiple locations.
Arson? I have yet to actually see one of the alleged "arson" videos because they get deleted (for "inappropriate content") shortly after they are shared, but there are rumors of one or more videos showing buildings being intentionally set on fire in China, with people still alive inside the buildings. People are working hard to call these fakes, saying it emerged in early January and there is no proof that it is linked to the virus; however, since the videos immediately get flagged and deleted, discussion and debunking it for yourself is nearly impossible. On that note, if you see a video and believe it will be deleted, there are ways you can archive it (to a different website) so that others can see it later.
Failed donation efforts. Food trucks sent to Wuhan are not allowed past the city's barricades, and the food goes to waste.
Resistance. In Xiaogan, Hubei, the villagers did not want to be sealed up inside their homes, and they fought back. The police fired shots.
What else is happening in China
Pop-up Hospitals. In response to the outbreak, a pop-up hospital was built in China in about 10 days. It leaks.
Non-Hospitals. China has also opened “quarantine shelters” which do not provide medical care; observers are calling these deathatoriums, where people are supposed to just go and wait to die. However, if someone lives with a big family and has nowhere else to go, this may be a humane way to help the person have shelter without risking infecting their loved ones. Once a person goes in, they are not allowed to leave.
H2H and A2H. Human-to-animal-to-human transmission appears possible: It was reported by a UK tabloid on Feb 21, 2020 that hundreds of pets have dropped dead in China; although that source is questionable, the 2002 SARs outbreak led to research that household pets such as cats and ferrets could be infected by SARS-CoV which they caught from a human, and then could spread the disease to other humans (back in 2002).
Historic Firsts. Wartime policies are in place. China has locked down three entire provinces (Hubei, Liaoning, Jiangxi), all four centrally-administered municipalities (Beijing, Shanghai, Tianjin, Chongqing) and more than 80 other major cities. Some estimate that nearly 800 million Chinese (9.8% of the population of the entire planet) are under some type of quarantine, lockdown, and/or movement restrictions. A bit of logic often repeated on reddit is "You don't do that for the flu."
Cages. People are being dragged kicking and screaming off the street into truck cages, because a spot-check of their forehead temperature revealed they had a fever.
Press Censorship. Reporters are going silent and China revoked the press credentials of 3 WSJ reporters.
Robots. In Wuhan robots (think "gonk droid" not "C3PO") and drones are being used to enforce the quarantine, ordering people not to leave their homes, even for food.
Information Control. Chinese whistleblowers are reportedly disappearing or suddenly being diagnosed as infected, hours after posting revealing information.
Claims of People Being Burned Alive. Taiwan News - and no other sources as far as I can find - is reporting alleged first-hand accounts of people who claim they saw people being burned alive in Wuhan, the alive bound up with corpses and dragged off together.
Doctors Sickened. Chinese medical professionals (around 1800) are getting infected despite safety procedures, and some are dying from the infection (notably the director of a hospital in Wuhan). Usually doctors and nurses aren’t too worried about getting ill from their patients due to their safety measures, which indicates that covid-19 is much more infectious than the usual flu strains.
Irony. A high-level government health official emphatically stressed to reporters that the virus is preventable and controllable, a few days before he himself was diagnosed with the virus.
24/7 Lockdowns. People in Wuhan no longer being let out of their homes once every 7 days, and are on 24/7 lockdown.
Propaganda Videos. In the early days there were quite a few propaganda videos showing happy, smiling shoppers in grocery stores that were fully stocked. There were very light crowds - lighter than usual even - and no shortages of food in these videos, despite the leaked videos showing empty vegetable bins, huge meat bins with only one pack of meat left, and violent fights between shoppers trying to get their hands on a sack of rice.
Positivity Efforts. There have also been propaganda vids showing infected patients dancing and doing exercise; this is all part of the order from on high to keep the message "positive" and ensure that nothing but pure "positivity" covers all virus news.
"Moving Deeds" Efforts. Propaganda efforts have been directed toward promoting the effects of control measures and the “moving deeds” of volunteers, community workers, and the police. They have also posted some 400,000 comments online to counter negative public opinions.
Barring Investigators. China wouldn't let any WHO Americans into the country until recently, but they are still being prevented from going to Hubei and Beijing.
Movement Restrictions. Drones carry QR codes at the entrances to cities; drivers must use their cell phone to scan the QR code, and then the system will analyze the phone's recent movements, then decide whether to allow the person into the city.
Medical situation propaganda. While leaked videos show overwhelmed, crying medical staff in packed hospitals, there are also some propaganda videos showing empty hospital corridors and calm, smiling, laughing, relaxed doctors; one claim being circulated is that some of those were filmed with actors hired to portray doctors.
New medical crime laws. On Feb 8, 2020 China’s National Health Commission announced seven types of "medical-related" crimes, stating that prosecution will be swift and they will not rule out the death penalty for these crimes, which, in plain English, are basically: 1) Don't injure medical workers, 2) Let medical workers go wherever they say they need to go, 3) Don't pull down your mask and spit in the face of medical workers, 4) Cooperate with mandatory health checks and quarantines and don't disrupt anyone trying to burn bodies, 5) Don't stay in a hospital if you've been told to leave, and funerals are banned, 6) Don't carry weapons into a hospital, and 7) Anything else they decide is illegal is also illegal.
Swift cremations. Funerals in Hubei are banned; the deceased are immediately cremated and the family is notified afterwards. If the deceased did not have a coronavirus diagnosis before death, the body will never be tested and the case will never be added to the official numbers.
Longterm Health Implications. The US government has just announced that "recovered" COVID-19 survivors are permanently disqualified from military service. This speaks volumes about what the government knows about what this virus is and what it does. Link
Death Rate. The fatality rate is still an unknown; many people blindly repeat “2%” although we have not had enough cases outside of China, for long enough, to know the real number. Professor Neil Ferguson of the Imperial College of London has published a paper estimating Hubei province will see an 18% fatality rate. That’s one of five people out of 11 million; which means this professor is projecting roughly 2 million deaths in Hubei province alone. The same professor says that it is not absurd to anticipate we’ll have 400,000 infected in the UK. Early numbers from Italy are over 30% but of course it's still way early to know.
False Negatives. We don't know how many people have it and were tested negative, because there have been experiments where current test kits have failed to detect the virus until the 5th or 6th time tested.
Airborne? Reports from inside China have repeatedly referred to the virus as "airborne." This gets shouted down on social media as soon as it is repeated, with anonymous "experts" trying to convince you and everyone else reading that you simply don't know what "airborne" means, and trying to switch the focus to droplet contamination by sneezes and coughs. People in China, and certain parts of South Korea, Vietnam, and Italy have been warned specifically not to go outside.
Source of virus. The "official" source, which somehow was known and announced since the very early days, was a so-called "wet market" or "seafood market." In reality these markets are infamous for butchering and selling the meat of snakes, bats, rats, cats, dogs, badgers, civets, raccoon dogs, and other exotic mammals for human consumption. CNN reports from years ago documented dogs and cats in cages, waiting for butchering. The propaganda description is that the markets just sell seafood and birds. Sanitary practices in such markets consist of rinsing off surfaces with plain water periodically, and using the same knife to cut multiple species of animals, and the same knife to cut meat and then intestines and then meat again. The possibilities for illness and infection from such meat sources is obvious, and the official story is that this virus somehow jumped from bats (or some say from pangolins) to humans.
Virus Lab. The original source of the virus has been the subject of great debate. It has been reported as starting in Wuhan, which happens to have Asia's only Level 4 Biosafety Laboratory. Some Chinese researchers were indicted for taking virus samples from Canada to China, and, the head of a Canadian virus lab was also indicted for being on the payroll of China and accepting $50,000 a month payment from them. Draw your own conclusions.
HIV Proteins. Some research indicates that the virus shares four proteins with HIV, and bears certain genetic markers only found on genetically modified organisms. Those scientists were quickly silenced with criticism; most seem to believe the criticism. Regardless, numerous articles have claimed it somehow acts like HIV.
What's happening outside of China
Lockdowns. The entire countries of Italy, Spain, and India's entire 1.3 billion people are locked down. The US and UK are on some sort of half-ass "voluntary" thing, told to "stay home if you can" while many people ignore it.
Cruise Ship. The Diamond Princess cruise ship (quarantined near Japan) which some observers on reddit said would be a good test case for a real world model outside of China, has shown an alarming increase in the numbers of infected.
Suppression of Info. Google is believed to be suppressing virus news. Try the search engine that doesn't track you, https://duckduckgo.com
Macau. Macau closed its casinos. This would be like Las Vegas deciding to hang up a "Sorry, we're closed" sign for a few weeks.
Ukraine. Ukraine - civil unrest, riots, road blockades to protest quarantining and transportation of patients into the area.
South Korea. South Korea reported a surge of new cases on Feb 19, 2020, linked to an infected person attending a church service; 31 new cases were diagnosed. The growth in South Korea, in a matter of days, has been mind-blowing (In 13 days, the case count in South Korea has grown from 82 to over 5,300 cases). South Korea may have been a good predictor for what growth in the US will look like, except so far, South Korea is testing 2,000 out of every million of its citizens, while the US is only testing 1 out of a million.
Self-isolation. South Korea, Vietnam, and Iran are asking millions of people to stay at home, to contain the spread. In one city in South Korea the mayor has asked people to wear their viral masks even indoors at home.
Iran. While Iran is officially reporting 3 deaths as of Feb 21, 2020, a social media post says it's 20; that the virus can live on surfaces for 2 weeks, can transfer from animals, can reinfect after initial infection, and testing is 30%-50% accurate, with many false negatives and asymptomatic transmission, plus mutations of the virus. Other "leak" sources say there are 300 positive diagnoses in Iran. Just like we saw happen in China, a government official who urged the public not to overact about coronavirus has now tested positive for the illness himself. Within a couple of weeks of Iran's first case, multiple senior politicians had died (Mar 3, 2020). On Mar 12, satellite imagery revealed mass burial pits in Iran.
Dirty masks. Leaked video shows several women in head coverings who are sitting on the floor sorting through what appears to be thousands of used surgical masks - the implication being that these will be resold; the narration does not sound Chinese; the videographer holds up an example mask very close to the phone, to show that it is definitely used and soiled.
Travel to/from China. The US had up to 200,000 citizens in China at the time of the outbreak. As of mid-March, the US unbelievably still has daily flights from China. Canada still has unrestricted air transportation with China. Meanwhile, other countries have closed their borders to Chinese citizens and to anyone who has been to China recently.
Evacuations. The US has arranged multiple evacuation flights to bring Americans home from China. Some on reddit are concerned that this will only spread the infection faster, and would have preferred that anyone in China be left there. The US has spread these evacuees around at least three states, and enforces a “voluntary” quarantine of 14 days.
Quarantine Stations. For years the US CDC (Centers for Disease Control) has had 19 quarantine stations on military bases ready for just such an outbreak. American evacuees are currently being held at some of those.
Emergency Declarations. The US city of San Diego, California declared a "public health emergency" on Feb 14, 2020. As of March 7 these states have also declared a state of emergency: NY, FL, KY, PN, MD, UT, IN, CA, & WA. On Mar 14, Pres. Trump declared a national emergency and public schools in 12 states announced closures ranging from a few days up to 30 days.
Weak control measures in the US. In the US, hundreds of people are being "monitored" (sent home and told to call if they get a fever or cough) but are not being tested. These people may be contagious. Link
National Guard Mobilization in Tallahassee, Florida, US? A social media post claims to show a small fleet of what appears to be military vehicles, police officers, and ordinary trucks hauling large white trailers; the captions claim the vehicles are Chemical, Biological, and Radiological response units. Two large earth-moving/digging vehicles are in the fleet.
Spitting. US social media indicates Seattle patients are spitting on the clinic walls and floor.
People dropping dead. Social media posts from Iran (Feb 25, 2020) are showing us the same things we saw on social media in Hong Kong and on the leaked videos from China: various, random people just suddenly collapsed / dropped dead in the street. One theory being circulated is that the virus may cause heart failure, particularly during the patient's re-infection (or second time with the virus).
Supply Chain and Economic Impacts
Mask shortages. Chinese buyers are scouring the world to locate companies that can sell them viral masks in bulk. Many redditors have posted that they ordered masks online, but then got notified that their order was canceled or on back-order. In the US, as of mid-February most cities still have masks on the shelves at local stores; though many stores have imposed quantity restrictions such as 10 per customer. In states where the CDC has announced confirmed cases, people are having trouble finding masks anywhere.
Panic buying. Singapore has imposed limits on how much groceries and supplies a person can buy. Hong Kong has had panic-buying of household goods and groceries, with many rumors that ordinary things (such as toilet paper, which Hong Kong gets from mainland China) could go out of stock and stay out of stock for an unknown period of time. In the US we get our toilet paper from US companies; there is no reason to hoard toilet paper in the US! As of Feb 29 and Mar 1, panic buying appears to be happening in Hawaii, Oregon, California, and multiple locations in the US. As of Mar 13, panic buying has spread to many areas of the US. At this point if you failed to prepare, you should consider looking carefully at your own pantry and fridge, rather than going out and risking being in a panic buying crowd.
Global Crash. Economic damage in China and around the world is difficult to contemplate. Billions have already been lost. China produces about 17% of global GDP.
Cars and car parts. Some car makers have shut down plants temporarily and some may have to find alternative sources for components (such as plastics and wires etc.) before they can resume operations, unless this virus magically disappears by the end of February.
International Shipping. Some cargo ships are leaving Asia at 5% capacity (95% empty) and will not be able to continue to operate like that.
"Made in China." Experts are projecting shortages and disruptions in the global supply chain in general, affecting countless products either "made in China" or made with ingredients or parts sourced in China, including but certainly not limited to computers, electronics, auto parts, chemicals, medical equipment, machinery, telecom hardware, apparel and footwear, home goods, batteries, smartphones, and notably, pharmaceuticals (over-the-counter and prescription drugs), just to name a few examples. Even if a product is advertised as being made in your country, there's a good chance it contains Chinese components or ingredients or is at the very least being sold in a plastic container that was made in China. Industries are looking at options for finding other countries to become suppliers, so we can diversify the supply chain and avoid keeping all our eggs in one basket, though such measures could prove to be too little, much too late at this point.
There’s much more that can be posted here, but that's enough topics to get you started on your own research. I really doubt this is going to be disappearing in a month or two. If any readers have a source or video link etc., or additional points they you'd like me to add, just reply to this message, or send me a private message if you prefer. Thanks for reading!
Restrictions for tourists have been lifted in Macau - casino promotions are becoming more expensive.
China has opened borders with Macau, and a sharp jump in the value of securities is recorded on the Hong Kong stock exchange. Positions of Galaxy Casino S.A. rose 10%, Las Vegas Sands Corp subsidiary Sands China recorded an 8.9% gain, and Wynne Macau Casino shares climbed a record 16% since 2011. On July 14, the government of Gundong Province decided to resume the route to the enclave. At the same time, the exchange recorded increased investor activity in the Macau gambling market. Experts from the JP Morgan Chase and Co financial holding predict that casino revenues will grow by 20% in the near future. 25% compared to the same period last year. The decision of the authorities to change the mandatory two-week quarantine for tourists who enter the country was particularly welcomed. Anyone who arrives is still required to pass a virus test immediately upon arrival. Recall that the gambling sector revenues in June amounted to 89.7 million dollars, which is 97% less than the figures recorded in 2019. Before the spread of the pandemic, more than 23 million tourists visited Macau a year. Due to restrictions, only 4,537 visitors were recorded last month. have already estimated the loss from the forced shutdown of all entertainment establishments at $ 14.5 billion. www.aussiecasino24.com https://preview.redd.it/0t30yqy5q0c51.png?width=1084&format=png&auto=webp&s=cd7dda127ff0e605504a17ad5272d6f0522d08f7
27th January 2020 US equity futures are falling ahead of the cash open given the continued coronavirus contagion which saw the global cases reach 2700 and the deaths toll topped 80 over the weekend. Travel focussed stocks, such as United Airlines (UAL), American Airlines (AAL) and Southwestern Airlines (LUV) are trading in the red, with some holding losses of over 4% on travel disruption concerns, as is Trip.com (TCOM). Casino names like Las Vegas Sands (LVS), Wynn Resorts (WYNN) and Melco (MLCO) are facing even further pressure as the confirmed cases in Macau increased to five. Copper miner Freeport McMoran (FCX) is lower as copper prices fall to 8-week lows on global growth concerns, while gold miners (GOLD, NEM) are benefitting as the precious metal rises in a safe haven bid. China listed ADR’s (BABA, JD, BIDU) also hit as the death toll increases. This week’s Barron’s articles highlight that the Super Bowl will be a huge opportunity for sports betting names, as it focuses on expansion in mobile sports betting, highlighting that the street has been enthusiastic in the rising stock price in Diamond Eagle Acquisition (DEAC). Further on the Super Bowl, Barron’s says that advertisers like Omnicom (OMC) and Interpublic Group (IPG) hold less appeal, amid a further inflow of larger tech names partaking in the advertising space. Elsewhere the journalists highlight that largest tech companies such as Amazon (AMZN), Microsoft (MSFT) and Alphabet (GOOGL) are competing for a larger share in esports. Finally, Barron’s notes investors in HP (HPQ) are likely to benefit as it has made it clear it would prefer to lever up and buy back large amounts of shares, instead of submitting an offer to Xerox (XRX).
Apple Inc. (AAPL) Ahead of its earnings on Tuesday, Credit Suisse analyst Matthew Cabral is looking for continued improvements in iPhone revenue trends due to a strong start for the iPhone 11. However, he believes the focus is shifting to the upcoming 5G iPhone in H2 20, which should help it drive revenue growth. Elsewhere, RBC Capital analyst Muller maintains an outperform rating on the tech giant with a USD 330 PT (last closing price 318.31). The analyst states his data checks suggest its estimates for Q1 are reasonable, whilst highlighting a slight beat on consensus figures could be seen due to strength in iPhone and wearable sales. Boeing Company (BA) A Boeing jet reportedly crashed in Ghazni, Afghanistan, which was operated by Ariana Afghan. The number of casualties is currently unclear, however, separate reports state the airline denied the crash. Elsewhere, Boeing successfully staged its first flight of its 777X jet. Exxon Mobil Corp. (XOM) raised its Guyana offshore estimate to above 8ln BoE as it continues to develop the Guyana oil block. Intel Corp. (INTC) has been downgraded to Market Perform from Outperform at Northland, with a USD 70 PT (last closing price: 68.47). Analyst Gus Richard notes that while he forecasts several both positive and negative catalysts, he is unclear what will come first. The analyst expects Intel to fix or jettison underperforming product lines, although sees headwinds which could impact the stock, perhaps as soon as Q2 2020. Gus Richard highlights structural issues, including its design flow and manufacturing.
Alphabet Inc Class A (GOOGL) US State Attorney Generals are to meet with the DoJ to collaborate information on a probe which relates to the co.’s monopolistic behaviour for online advertising which could harm consumers, according to people familiar with the matter. Kraft Heinz Co (KHC) CEO is pushing for growth, noting its aim is for fewer and bolder bets to increase its sales, according to WSJ. Starbucks Corp. (SBUX) and Yum China Holdings (YUMC) have closed all its shops and suspended delivery service in the Hubei province due to the coronavirus. T-Mobile (TMUS)/Sprint (S) are reportedly facing a potential hurdle from the California Public Utilities Commission (CPUC), the only remaining state utilities board to not approve the deal, according to WSJ, who note the CPUC is continuing its review which threatens to further delay or even derail the USD 26bln merger.
AbbVie Inc. (ABBV) announced that China is testing an HIV drug as a treatment for the coronavirus. Elsewhere, AbbVie Inc. (ABBV) / Allergan, Plc (AGN) agreed to divest its Brazikumab and Zenpep drugs, where Nestle (NESN SW) will take ownership of Zenpep, and AstraZeneca (AZN) will acquire Brazikumab. The approval of the deals is dependent upon FTC and EC approval. Arconic Inc. (ARNC) Q4 19 (USD) Adj. EPS 0.53 (exp. 0.54), revenue 3.4bln (exp. 3.48bln). Forecasts FY20 Adj. EPS between 2.22-2.42 (exp. 2.37), revenue expected between 13.9bln – 14.2bln (exp. 14.16bln). Q1 20 Adj. EPS forecast 0.47 – 0.53 (exp. 0.53) Chipotle Mexican Grill (CMG) has been upgraded to Neutral from Sell at UBS, raising the PT to USD 900 from USD 690 (Last closing price USD 869.71). Where analyst Dennis Geiger is more confident in the sustainability of the company’s strong sales and earnings growth, highlighting recent performance has significantly exceeded his expectations. D. R. Horton (DHI) Q1 20 (USD): EPS 1.16 (exp. 0.92), Revenue 4.02bln (exp. 3.77bln), homes closed +13% to 12,959. CEO believes they will continue to see good demand across their markets. FY20 revenue forecast at 18.5bln to 19bln (exp. 18.82bln, prev. 18.5bln – 19.1bln) FY20 home closes expected to be between 60,000 and 61,500 (prev. 60,000 to 61,000). Expects Q2 revenue at USD 4.25 - 4.4bln (exp. 4.25bln) and Q2 home sales between 13,800 and 14,300 homes. Lilly (Eli) & Co. (LLY) and Incyte (INCY) announced its BREEZE-AD4 trial, evaluating Baricitinib in combination with Topical Corticosteroids for treatment of adults with moderate to severe atopic dermatitis met its primary endpoint. Marathon Petroleum (MPC) increased its quarterly dividend to USD 0.58, a 9.4% increase. Simon Property Group Inc (SPG) is reportedly considering teaming with Authentic Brands to look at an acquisition of Forever 21, the bankrupt teen retailer, according to people familiar with the matter. Sprint (S) Q3 19 (USD): EPS -0.03 (exp. -0.05), Revenue 8.08bln (exp. 8.22bln); wireless post-paid net additions 494,000 (prev. 309,000); wireless post-paid ARPU 42.04 (exp. 42.30). Sprint is optimistic about the necessary regulatory steps to complete merger with T-Mobile (TMUS, DTE GY) Sees Q4 EBITDA to remain flat sequentially. Capex seen around USD 1bln in Q4. Yum! Brands Inc (YUM) increased its quarterly dividend to USD 0.47 from USD 0.42/shr.
Crispr Therapeutics (CRSP) had a stake cut to 6.2% from 7.3% by Bayer Global Investments. Fiat Chrysler (FCAU) urged a federal judge to dismiss a lawsuit from General Motors (GM) which accused the automaker of racketeering and bribing UAW officials to put General Motors (GM) at a multibillion-dollar labour cost disadvantage. General Motors (GM) announced a USD 2.2bln investment at its Detroit facility to produce a variety of EV trucks and SUV's, noting its first electric truck is expected to begin production in late 2021. D.R Horton (DHI) expects modest price increases this year. Starbucks (SBUX) - Guggenheim analyst Matthe DiFrisco states Starbucks has the highest exposure to China out of the restaurant stocks he covers, followed by McDonald's (MCD) and Domino's Pizza (DPZ). Adobe (ADBE) upgraded to Buy from Neutral at Cleveland Research
18th December 2019 Good morning fellow traders, good luck today, stay warm.
JPMorgan Chase & Co. (JPM) received regulatory approval from China to set up a majority owned securities venture in the country, which will include a brokerage, investment advisory, underwriting and sponsorship. Merck & Co. (MRK) announced the FDA’s Oncologic Drugs Advisory Committee voted 9-4 in favour of recommending Keytruda, for the treatment of patients with high-risk, non-muscle invasive bladder cancer.
Activision Blizzard (ATVI) announced it is putting the release of its Warcraft III: Reforged, to January 28th 2020, despite aiming to release the game prior to year-end as they feel little more time is needed to maintain its high quality standards. Amazon.com Inc. (AMZN) has paid some of its suppliers up to 25% more for the goods it resells to offset US President Trump’s tariffs on Chinese products, according to Business Insider. Elsewhere, it announced a free return on millions of items, for items such as electronics, household items, pet supplies kitchen appliances and more. Illumina Inc (ILMN) has had its USD 1.2bln deal to acquire Pacific Biosciences of California (PACB) challenged by the FTC, alleging ILMN is aiming to unlawfully maintain a monopoly in the US. Market for next-gen DNA sequencing systems, by eliminating PACB as a threat. Nvidia Corporation (NVDA) has partnered with Tencent (700 HK) to launch a cloud gaming service in China. Tesla (TSLA) are reportedly considering reducing prices of its Model 3 sedans in China by 20% or more in 2020, according to people familiar with the matter.
S & P 500
Altria Group Inc (MO) – A study released suggests that the nicotine formula used by JUUL Labs is almost identical to the flavour and addictive profile of the tobacco company’s Marlboro cigarette. Boston Properties (BXP) increased its quarterly dividend to USD 0.98/share from USD 0.95/share. CIGNA Corp. (CI) is to sell one of its units that sells non-medical insurance products to employers for USD 6.3bln to New York Life Insurance Co. Cigna also announced a USD 4bln share repurchase programme. Cintas Corp (CTAS) Q2 (USD): EPS 2.27 (exp. 2.03), Revenue 1.84bln (exp. 1.82bln); raised its FY20 EPS forecast to 8.65-8.97 (exp. 8.61, prev. 8.47-8.57). Devon Energy (DVN) announced a new USD 1bln share repurchase programme. Dish Network (DISH) co-founder Ergen appealed to testify in support of the T-Mobile (TMUS) and Sprint (S) deal, stating he has letters from three banks prepared to offer USD 10bln to fund the company’s new wireless network. E-Trade (ETFC) has announced an online-trade clearance automation, an industry first which allows administrators to enter, view and edit trade clearance instructions online for their participants, which includes trade windows, number and type of shares, time frame, and other grant specific information. FedEx Corporation (FDX) Q4 19 (USD): Adj. EPS 2.51 (exp. 2.84), Revenue 17.3bln (exp. 17.69bln), FY20 EPS view cut to 9.10-10.35 (adj. now seen between 10.25-11.50). Says quarterly results declined due to weak global economic conditions, higher ground costs, loss of business from a large customer. Later timing of Thanksgiving resulted in shifting of cyber week into December, which negatively impacted the results. Sees FDX ground operating margins to rebound. Morgan Stanley note the poor FedEx earnings holds a negative read to its competitor, United Parcel Service (UPS) General Electric (GE) healthcare unit has issued a recall for its Giraffe Incubator, OmniBed, and Care stations at the request of the FDA, who state the bedside panels can be upright and look closed but not be securely latched. General Mills (GIS) Q4 19 (USD): EPS 0.95 (exp. 0.88), Revenue 4.42bln (exp. 4.43bln). Pet food sales +16% at its Blue Buffalo unit (exp. 15%), backs FY20 Adj. EPS forecast of 3-5% growth and revenue growth of 1-2%. Leidos (LDOS) announced it is to acquire Dynetics, a privately owned company who is an industry-leading applied research and national security solutions company, for a cash value of USD 1.65bln. Eli Lilly & Co. (LLY) announced the launch of its long term, real-world evidence study of Emgality, labelled TRIUMPH, to evaluate the drug in comparison to other migraine treatments. Twitter, Inc. (TWTR) had its PT cut by Citibank to USD 36 from USD 45 over concerns on the near-term revenue outlook, adding ongoing issued with its promotion for the mobile app could hit the company’s revenues. ViacomCBS (VIAC) CBS unit is being sued by a Female 60-minutes producer for discrimination, as she claims she was side-lined after reporting her boss texted her an inappropriate photo. (NY Times) Wynn Resorts Ltd (WYNN) has extended its CEO contract for Matt Maddox through to 2022.
Allegheny Tech (ATI) announced Don P. Newman will join the co. as Senior VP and CFO, succeeding Pat DeCourcy, who will remain as SVP and Special Advisor to CEO until March 31st. Newman has more than 30 years of corporate finance and accounting leadership experience at high-growth businesses in a variety of industries, including metals and materials, energy, software, and drilling services. (Street Insider) Fiat Chrysler (FCAU) has signed a binding merger agreement with Peugeot (UG FP) owner PSA for a 50/50 deal, which creates the 4th largest automaker by volume and 3rd largest in revenue, valued at USD 50bln. FCAU agrees to distribute a special dividend of EUR 5.5bln to its shareholders. The CEO of FCAU, Mike Manley, will remain as part of the group, although it is unclear in what position. Lionsgate (LGF.A) announced a strategic alliance with Bharti Airtel and Starzplay to provide premium content from Lionsgate Play to customers in India. Pacific Gas & Electric (PCG) submitted a comprehensive, multi-party settlement agreement to the California Public Utilities Commission, aka CPUC, in relation to the wildfires in 2017-18 striking a USD 1.78bln settlement, although it bans recovering money from customers and was accepted by a US bankruptcy judge. Voya Financial (VOYA) announced it has entered into an agreement to sell its Individual Life and other legacy non-retirement annuities businesses to Resolution Life Group Holdings. Voya forecasts a normalised adj. operating EPS to reach 1.80-1.90 quarterly by the end of 2021 and estimates it will provide roughly USD 1.7bln of deployable capital Of note for Casino/gaming names (LVS, MGM, MLCO, WYNN), PBoC announced it will raise the remittance limit on individuals transfer of money from Macau to mainland Chinese accounts to CNY 80,000 per day from CNY 50,000.
Coronavirus is serious and stockmarket reacting to it.
Global Stocks Fall as Dangerous Coronavirus Spreads U.S. stocks followed European markets down amid concern that the coronavirus could hurt the global economy. Stocks tumbled on Monday and oil prices fell, as the spread of a dangerous virus in China raised investor worries about the global economy. The sudden appearance of the coronavirus, which has now killed at least 80 people in China and infected others in Europe and the United States, among other countries, has pierced a calm that had settled over financial markets in recent months. Monday’s decline in the S&P 500 followed a similar drop on Friday. LIVE U Ne 3,000 eople, mostly in China, have now contracted the disease. China extended the Lunar New Year holiday by three days until Feb. 2 in an effort to limit travel and contain the outbreak that started in the city of Wuhan. On Sunday, a fifth case of the disease was confirmed in the United States. The S&P 500 fell more than 1.5 percent on Monday, with shares of airlines and companies dependent on tourism from China particularly hard hit. American Airlines dropped more than 4 percent in early trading, and Wynn Resorts, which operates casinos in Macau, a special administrative region of China and a gambling haven for Chinese high rollers, dropped more than 7 percent. Major stock benchmarks in Europe were down more than 2 percent. While many markets in Asia were closed for Lunar New Year, Tokyo’s benchmark Nikkei 225 index also sank 2 percent. Oil prices dropped, reflecting concern that travel shutdowns and other reactions to the virus could slow the global economy, and shares of major oil companies also declined. Brent crude, the international benchmark, slipped below $60 a barrel, its lowest since October. China’s leaders are under pressure as the epidemic spreads at an accelerating rate. Concerns have been raised that the government’s response to the outbreak, which includes a lockdown of cities that affects 56 million people, is too late and could even make the situation worse. Full video update:https://youtu.be/PPAbE9PkO9M
MGM Resorts Insider Purchasing ($18.5M Purchase by a Director)
Hey all, We have seen quite a slowdown in unusual insider purchasing activity over the last week, but today we will take a look at MGM Resorts. If you aren’t subscribed, be sure to subscribe and check out some of our other posts!
MGM Resorts International ($MGM) - Insider Purchases
MGM Resorts International, through its subsidiaries, owns and operates integrated casino, hotel, and entertainment resorts in the United States and Macau.
As to be expected, MGM was demolished during the market crash falling from ~$33 at the start of 2020 to a low of $7.14 on 3/18 (a 78% decline). They have since recovered to a closing price of $15.00 on April 8th, but clearly have a long way to go to get back to their stock price from the beginning of the year. https://preview.redd.it/72cfa6k303s41.png?width=1456&format=png&auto=webp&s=866f6aee3d0e037b185c92d759352cd2320faed1 The recent Form 4 activity shows some insider purchasing activity, including a huge $18.5M purchase by Corvex Management (through Keith Meister, who is a director for MGM). The CEO and CFO were the only executives that made purchases, and they weren’t particularly large, but we do see that a couple of Directors made very sizeable stock purchases. \Note, Keith Meister made the $18.5M purchase on behalf of Corvex Management. Also, these “Total Shares” numbers represent the total shares in the “account” they are making the purchase for. Most of these are in their “direct account” (if the stock type is “common”, then it is in their “direct account), but they could also have trusts or accounts for family members that aren’t included.** https://preview.redd.it/tmcj5m3503s41.png?width=1456&format=png&auto=webp&s=30769bcbcb3028d03b2415146bd5ca3d92ae8282 The individual Form 4s show that none of the purchasing activity was part of any previously arranged plan. https://preview.redd.it/8se2h3s603s41.png?width=1456&format=png&auto=webp&s=0d638719c6d9f3958bbba27541ea9c4b0ae53c8b MGM recently put out a Proxy Statement and verified that they have ownership guidelines requiring their CEO to own 5x his salary in stock, the other executives to own 2x, and the Directors to own 5x their cash retainer. We aren’t going to list out all of the requirements here because they announced that as of December 31, 2019, all executives and directors owned the amount required (except for their new President of Commercial & Growth who is on track to meet his requirement). We didn’t see many executives making purchases over the last few weeks and it is possible the CEO and CFO were just making purchases to help ensure they are over their ownership requirement guidelines by the end of the year, but we also saw some very large purchases by Directors that may indicate that MGM is a company worth looking into. After falling almost 80%, they definitely have a lot of room to recover if they can make it out of this downturn in good shape. If you found this info useful, please make sure you are subscribed and share it with someone else who may find it useful!
Since the end of the Chinese Civil War, Macau has grown tremendously in regional significance, shifting from a valuable entrepôt to one of the largest hubs in the Far East. The vast majority of refugees who fled to the territory have been allowed to stay, with 150,000 having already secured territorial residency (the closest thing to citizenship for non-ethnic Portuguese in the overseas territories at present), bringing the total resident population up to 350,000 (the remaining 150,000 have ten-year work permits). Of the 300,000 residents who have arrived since 1939, approximately 100,000 have settled on the Macau Peninsula, 50,000 on Colaone Island, and 150,000 on the previously under-populated Taipa Island (see map as attached). This has left much of the territory covered in slums, although a central government-supported programme to provide interest-free mortgages to refugees and new residents has led to the establishment of medium-quality, high-density housing across much of Taipa Island and the Peninsula. Small scale industry and locally-owned businesses have also taken off across the territory, as migrants attempt to start a new life in the bustling city. The Macau of 1957, therefore, finds itself with an affluent centre of business on the Peninsula, flanked by emerging neighbourhoods and slums in the south and east, a highly-populated emerging cityscape on Taipa Island, with a central nucleus of emerging neighbourhoods (predominately featuring high-density, apartment-style housing) surrounded on all sides by slums and small scale factories, and a still under-populated Coloane Island, which presently boasts some slums, farms, factories and traditional villages. The vast majority of small scale industry in Macau consists of textiles manufacturing in factories set up by the migrants. That said, larger-scale industry has also emerged, including a major bicycle factory near the border with China and a rifle manufactory on the southern tip of the Peninsula. This is emblematic of the territory’s economic ascendance, as is the arrival of new waves of ethnic Portuguese, who have brought the European population of the territory up to 13,000 since 1949.
The signing of the Sino-Portuguese Free Trade Agreement (SPFTA) in 1956 has dramatically improved the economic prospects of Macau. Indeed, the near-complete removal of Chinese import tariffs on Portuguese luxury goods has resulted in the establishment of a number of luxury goods production facilities on the Peninsula, as well as the proliferation of dozens of prestigious vendors in the affluent portions of the isthmus. In addition to the basic textile manufactories set up by the migrants, a number of fashion outlets have also been established for upper-class visitors, and for deliveries to customers in China, Hong Kong, Japan, Australia and Southeast Asia. Jewellers, shoemakers, watchmakers, tailors, cordwainers and bag markers have all set themselves up in the territory, where they create their products, sell them to visitors and also export them abroad. Distilleries have also become popular, with the territory developing a positive reputation for its fine, locally-distilled whiskey, rum, gin and baijiu. An emerging brand of dark rum, known as ”Ventos Orientais”, has grown particularly popular. The rum is recognised for its distinctive flavour, being the only major rum brand to use Timorese sugar. Tobacco companies have also established high-end stores on the Peninsula, where they sell a number of recognisable international cigarette and cigar brands. Otherwise, with the significant reduction of Chinese tariffs on precision-made products, a number of manufactories have popped up on Coloane Island, producing measuring equipment, precision medical supplies and levelling tools. The Banco de Macau, meanwhile, has left a permanent mark on the territory by becoming the first enterprise to construct a ‘skyscraper’ (as they’re being called) in Macau, building its new corporate headquarters on the western side of the Peninsula. It has been joined by the Macau-Beijing Investment Bank and the Banco Afro-Eurásia, which have also begun construction on smaller, albeit impressive skyscrapers. Regrettably for the Banco Português do Continente e Ilhas and Montepio Geral Bank, who do not have enough capital for a skyscraper, three-storey office buildings have had to suffice. In many cases, these banks have been instrumental in financing the recent expansion of the Macanese economy. The Banco de Macau and the Banco Afro-Eurásia, however, have sought to increase their regional presence even further by expanding into Thailand, the Philippines, Japan, Singapore and Indonesia. The Banco de Macau, in particular, is expected to make major investments in Japan, Thailand and Indonesia in the coming years.
Tourism and entertainment opportunities:
The recent introduction of Western gambling to Macau, along with the Banco de Macau’s heavy investment in new casinos, has led to a proliferation of the gambling industry across the territory. Dozens of small to medium, high-end, Western casinos now dot the Peninsula, while a number of traditional casinos have emerged on Taipa Island. Along with the emergence of a luxury shopping culture, the new casinos have proven extremely popular with affluent visitors from China, Hong Kong, Japan, the West and Southeast Asia. Many new hotels are being founded on the Peninsula to meet this demand, as well as a new, game-changing casino known as Casino Lisboa, which shall open its doors in 1960. Quite expectedly, the proliferation of gambling across the territory has only poured fuel on the metaphorical fire that is the gambling syndicate rivalry. New syndicates are now competing for an increased market share as outside factions interfere with the rivalry (see: the banks and Triads) and older syndicates desperately battle to preserve their local hegemony. Already, this rivalry has been given a morbid monicker, becoming known as the ”Bloody Game (残忍赛)”. This name is quite deserved, given that syndicates of all sizes have gained a reputation for sabotage, death threats, murder and murky alliances with the Triads as their deadly rivalry spirals out of control. Beyond the casinos, new bars, restaurants and nightclubs have been established across the territory, catering almost exclusively to high-end visitors and the Macanese elite. The combination of modern, dimly-lit bars, domestically-made liquor, prestigious fashion brands, international visitors and high-stakes games of poker have given Macau a distinct flavour, with the city increasingly being known as the ”City of Jazz (爵士城)”. Regular ferry trips between Hong Kong and Macau, coupled with daily/weekly flights to Tokyo, Beijing, Singapore, Manila, Shanghai and Bangkok are only improving this reputation.
MAP The huge population increase on the Taipa and Coloane islands have put immense strain on the intra-Macau ferry service. Hoping to alleviate this strain, the Macanese territorial government has announced a new project to connect Taipa Island to the Peninsula with a new bridge. Inspired by the Ponte de Liberdade in Lisbon, and designed by the same engineers, the bridge is expected to be completed by 1965 (marked in red on the map). The bridge is to be named in honour of the territory’s outgoing Governor, Joaquim Marques Esparteiro, being called the Ponte da Esparteiro. Otherwise, recognising the strain which Macau’s rapidly-increasing population has had on the geography of the territory, a major land reclamation project is to be undertaken on both the Peninsula and Taipa Island. Zoning will take place ahead of time for the planned land, allowing preemptive property sales to help fund the project. Dutch engineers will be brought on for the project as a result of their vast land reclamation experience. Additionally, the Portuguese Navy is to assist with the project by providing auxiliary vessels where relevant. The new Peninsula-Taipa bridge will only extend across the stretch of water between the reclaimed land, with the connecting road that passes over the reclaimed land simply being raised several metres above the ground. (Land reclamation areas are marked in blue on the map, along with their planned year of completion). Finally, in order to prevent a potential bottleneck of manufactured goods produced on Taipa Island from blocking Macau harbour and the Ponte da Esparteiro, a new industrial dock is to be constructed on the island, to be completed by 1964 (marked in orange on the map).
Vice and crime:
As previously noted, the expansion of the gambling industry has also spawned an intense rivalry between the syndicates. Indeed, the increased prevalence of vice across Macau has created an opportunity for the Triads, who already enjoyed a strong Macanese presence before the territory’s expansion, particularly on Taipa Island, the Peninsula casinos and in the slums/emerging neighbourhoods in the north. As the "Four Major Gangs (四大黑幫)” of Shui Fong, Wo Shing Yee, 14K and the Big Circle Gang have grown in importance, they have gained large footholds in the new neighbourhoods, where they run extortion rackets and loan shark operations, targetting small businesses, nightclubs and traditional gambling dens. Human trafficking has also emerged as a dangerous front, as the Triads seek to smuggle in illegal workers and, in the case of the nightclub sector, “waitresses”. Finally, the counterfeiting of patacas (Macau’s currency) has increased prolifically, as the Triads seek to use fake currency to make large bets in the casinos. Though Indonesia’s provision of detailed intelligence on Triad drug smuggling operations in Macau has resulted in a massive crackdown on that particular area of organised crime activity, the Triads appear to be gaining ground on almost every other front, creating a complex interplay between Macanese businesses, rival gambling syndicates, law enforcement, local politicians and the Four Major Gangs. Hoping to assist the struggling territorial police in eradicating bribery, human trafficking, extortion, loan sharking, murder and counterfeiting, the SIS (basically the Portuguese FBI/secret police) and the Customs and Finance Intelligence Service (CFIS) have created a joint task force known as Operation Varrer Profundo (Deep Sweep). This operation will see the two agencies create large, permanent offices across the territory, cracking down on the Triads and illegal gambling syndicate activity by sending in hundreds of agents. Thus begins what many expect to be a years-long cat and mouse game between Portuguese authorities, the Triads, the gambling syndicates, corrupt politicians and the business sector
Global stocks are surging on news that the US President Trump has asked US trade officials to begin drafting a trade agreement with China
Global stocks are surging to end the week on hopes that US – China trade tensions are thawing
US index futures are point to a jump in US stocks on the NY open with Dow Jones minis +1.20%, S&P500 minis +0.88% and Nasdaq 100 minis +0.18%
According to Bloomberg News, US President Trump has instructed US trade officials to begin drafting a potential trade agreement following a phone call between US President Donald Trump and Chinese President Xi Jinping
Change in US Nonfarm Payrolls for October will be released later this morning at 8:30am
Disappointing new iPhone sales for Apple (AAPL) may put a cap on gains in the tech indices this morning – there may be an opportunity to buy QQQ this morning if there is a disconnect between the benchmark tech ETF and other major US stocks ETFs like SPY and IWM
The VIX is little changed this morning and is currently at 18.65 after closing at 19.34 yesterday
FXI December 21 OTM Calls, SPY November 2 OTM Puts, EEM December 21 OTM Calls & Puts, and HYG November 16 & January 2019 OTM Puts are the most actively traded options contracts in the US pre-market
US 10-Year Treasury Bonds are lower with yields up 3.24 basis points to 3.1627%
The US Treasury 2s-10s Spread has widened 0.61 basis points to 0.29%
WTI Crude is currently down -2.48% to USD$63.69/bbl with the Brent-WTI spread up USD$2.76 to USD$8.58/bbl
Gold is currently little changed 0.17% to USD$1235.48/oz
Stocks Trending in the News
Click name for Q-Factor breakdown, latest price details, more financial info and sentiment data.
Alibaba Group Holding Limited (BABA) shares are trading higher after reporting earnings that largely beat analyst expectations. Alibaba delivers FY2Q2019 adjusted EPS of USD$1.40/share, beating consensus estimates of USD$1.06/share by 31%. Alibaba’s top-line revenue fell just short of analyst forecasts with FY2Q2019 revenue of USD$12.40bn while consensus forecasts called for USD$12.45bn. Alibaba management also pulled-back FY2019 revenue growth guidance by between 4% to 6%. Trump comments on a potential China-US trade resolution has put a further bid into Chinese stocks. Alibaba is rated “Neutral” in our China All-Cap Global Top Stock Ideas.
Apple (AAPL) reported 3Q results that beat expectations but guidance that disappointed. Following the disappointing guidance, Apple declined more that 5%. Apple reported 4Q revenue of USD$62.9 billion while 61.44 billion was expected. Apple’s 3Q EPS of USD$2.91 beat USD$2.78 expected. Apple sold 46.9mn iPhones, 48.4mn was expected. Apple 4Q outlook, however, has come at the low end of expectations. Apple expects 4Q sales of iPhones, which included the key holiday season, to be 46.9mn units while the market is expecting 48.4mn. Notably Apple announced that in the future it will not report individual sales figures on iPhones, iPads and iMac sales. Apple is rated “Attractive” in both our US Large-Cap and US Information Technology Global Top Stock Ideas.
Caesars Entertainment (CZR) reported an unexpected profit of 14 cents per share. Caesars Entertainment was expected to report a 1 cent per share loss. Caesars Entertainment reported revenue of USD$2.19 billion, in line with USD$2.21 billion expected. Adjusted ebitdar was USD$600mn. Caesars Entertainment is rated “Unattractive” in both our US Large-Cap and US Consumer Discretionary Global Top Stock ideas.
CBS Corp. (CBS) reported 3Q profit of USD$1.24 excluding some items versus USD$1.22 expected. CSB saw a 19% jump in tv-show licensing and as sales at its entertainment unit. CBS expects a surge in ad sales in the next quarter with up to USD$250mn in additional ad sales. CBS is rated is rated “Unattractive” in our US Large-Cap Global Top Stock Ideas and “Attractive” in our US Consumer Discretionary Global Top Stock ideas.
Kraft Heinz (KHC) reported 3Q adjusted EPS that missed estimates. Kraft Heinz reported adjusted EPS of 78 cents while 81 cents was consensus. Kraft Heinz net sales came at USD$6.38 billion, consensus was USD$6.31 billion. Kraft Heinz saw higher costs weigh in results. Kraft Heinz is rated is rated “Attractive” in our US Large-Cap Global Top Stock Ideas and “Top Buy” in our US Consumer Staples Global Top Stock ideas.
Mahindra & Mahindra (MM IN) reported a 17% increase in tractor sales for October. Mahindra & Mahindra reported 47,376 units sold versus 39.516 a year ago. Exports were 2% of sales. Mahindra & Mahindra said demand is strong as festival season approaches. Mahindra & Mahindra is rated “Attractive” in our India All-Cap Global Top Stock Ideas.
MGM China (2282 HK) surged on news Macau casino revenue rose 2.6%. Total revenue hit a record USD$3.38 billion and the sector is reacting positively. MGM China is rated “Neutral” in our china All-Cap Global Top Stock ideas.
Mitsubishi Corp (8058 JP) increased net income guidance to 640 billion yen but still comes blow average consensus of 654 billion yen. Mitsubishi Corp booked a one-time charge of 55 billion yen for losses related to Chiyoda Corp. Mitsubishi Corp expects strong growth from its energy business. Mitsubishi Corp is rated “Unattractive” in our Japan Large-cap Global Top Stock Ideas.
Rosneft (ROSN RS) may invite ExxonMobil (XOM) to participate in Far East project called Eastern Petrochemical according to a report in the local Russian press. The report outlines a number of options, one of which is to offer ExxonMobil over 50% of the project, having ExxonMobil control, to avoid US sanctions. Blomberg reports Russian officials mentioned in October that the 2 companies were talking. ExxonMobil is rated “Neutral” in our US Large-Cap Global Top Stock Ideas, Rosneft is rated “Top Buy” in our European SMID-Cap Global Top Stock Ideas.
Starbucks (SBUX) posted results that beat sales expectations in the US. Starbucks sales in the Americas rose 4% versus 2.8% consensus. Starbucks saw 1% growth in China. Starbucks reported 4Q EPS of 62 cents while 60 cents was consensus. Starbucks is rated “Attractive” in our US Large-Cap Global Top Stock Ideas and “Top Buy” in our US Consumer Discretionary Global Top Stock ideas.
European stocks are advancing this AM and poised to close the week with the biggest weekly advance since December 2016
The Euro Stoxx 600 is currently up +1.04%, the FTSE 100 is higher by +0.75%, the DAX has advanced +1.46%, and the CAC 40 has risen +1.3%
News that trade tensions between China and the US may be thawing is putting a bid into export-sensitive stocks
Eurozone manufacturing PMI dropped to 52.0 for the month of October (final amount)
Italian manufacturing shrank for most of October, the greatest negative move in 4 years
Investor sentiment for European stocks is positive with the advance/decline ratio for the Euro Stoxx 600 currently at 5.59x
Automobiles & Parts (+3.51%), Basic Resources (+2.91%), and Technology (+2.05%) stocks are the top performers in the Euro Stoxx 600 today
Food & Beverage (-0.07%), Health Care (-0.06%), and Utilities (+0.11%) stocks are the worst performers in the Euro Stoxx 600 today
77 stocks in the Euro Stoxx 600 are at 4-week highs while 8 stocks are at 4-week lows
6 stocks in the Euro Stoxx 600 are overbought while 16 stocks are oversold according to the 16-day RSI Measure
VSTOXX, the European stocks equivalent of the VIX, is little changed this morning and is currently at 18.05 after closing at 19 yesterday
EUR€ is currently up +0.316% against the USD$ to 1.1444
GBP£ is currently little changed against the USD$ at 1.3029
CHF is currently up +0.471% against the USD$ to 1.0026
German 10-Year Bunds are lower with yields up 3.3 basis points to 0.432%
UK 10-Year GILTs are lower with yields up 3.3 basis points to 1.488%
Asian stocks shot up overnight following news that US President Donald Trump has asked US trade officials to draft a potential trade agreement
The Nikkei 225 finished up +2.56%, the Hang Seng ended up +4.21%, the Hang Seng China Enterprise up +3.97%, and the CSI 300 was +3.56%
The 4%+ jump in the Hang Seng is the biggest one day for the index since CY2015
Investor sentiment for Japanese stocks finished positive with the advance/decline ratio for the Nikkei 225 closing at 2.95x
10 stocks in the Nikkei 225 hit 4-week highs while 29 stocks reached 4-week lows
0 stocks in the Nikkei 225 closed overbought while 22 stocks closed oversold according to the 16-day RSI Measure
6 stocks in the Hang Seng hit 4-week highs while 1 stocks reached 4-week lows
0 stocks in the Hang Seng closed overbought while 2 stocks closed oversold according to the 16-day RSI Measure
Japan 10-Year Government Bonds are lower with yields up 0.6 basis points to 0.129%
JGBs 2s-10s Spread has widened 1.1 basis points to 0.26%
JPY¥ is currently little changed against the USD$ at 112.85
It's a new month for Wall Street, but so far it appears it will begin the same way the old one ended — with losses. The Dow has now fallen for six consecutive weeks for the first time in eight years, while the S&P 500 and Nasdaq have posted four straight weekly declines, as ongoing tariff tensions with China and now Mexico as well as U.S. economic uncertainty loom. (CNBC)
Market drop in May felt serious, but it is normal for stocks (CNBC)
The Dow's Friday close was its lowest since Jan. 29, while the S&P 500 and Nasdaq closed at their lowest since March 8. And although the Nasdaq is still up more than 12% for the year, it is moving closer to correction with a nearly 9% decline from its May 3 record closing high. (CNBC)
Goldman Sachs (GS) sees increased risks of escalations of U.S. trade disputeswith China and Mexico. There is now a 60% chance of the U.S. placing a new 10% tariff on the final $300 billion of Chinese imports. There is now a 70% chance of Trump imposing 5% duties on Mexican goods and a 50% chance that goes to 10%. (CNBC)
US-China trade deal isn't likely at the G-20 summit this month, JP Morgan and Morgan Stanley say (CNBC)
Morgan Stanley sees global recession 'in three quarters' if Trump escalates trade war (CNBC)
Top officials from the U.S. and Mexico are set to begin talks today over tariffs and border safety. "Mexico is sending a big delegation to talk about the Border," the president tweeted. "Problem is, they've been 'talking' for 25 years. We want action, not talk." (AP)
On the economic calendar, at 10 a.m. ET, both the May ISM manufacturing index and April construction spending are out. Some of the nation's automakers issue May sales today, although Ford (F) and GM (GM) only report on a quarterly basis. There are no major earnings this morning. Box (BOX) releases its quarterly number after today's closing bell.
President Donald Trump arrived for his first state visit to Britain today. Cracks are starting to appear in the transatlantic relationship, with political analysts concerned that his "off-the-cuff" and "impulsive" leadership style could make matters worse over the coming days. (CNBC)
Trump calls London Mayor Sadiq Khan a 'stone cold loser' (CNBC)
Everything you need to know about Trump's state visit (CNBC)
Trump tweeted that White House Council of Economic Advisers Chairman Kevin Hassett will "shortly" leave his post, but did not provide a reason. It's unclear who's set to takeover, in a time of drama between the U.S., China and Mexico. (Reuters)
Secretary of State Mike Pompeo said the White House's Mideast peace plan is possibly "unexecutable" and might not "gain traction," according to an audio recording of the private meeting obtained by The Washington Post.
Trump administration says it will negotiate with Iran with 'no preconditions'(NY Times)
More than 300 Boeing (BA) 737 jets, including the Max, may have faulty wing parts that don't meet strength and durability standards, the FAA said, following a joint investigation with the aircraft manufacturer. The agency plans to order airlines to remove and replace the parts if their aircraft are affected. (CNBC)
Alphabet's (GOOGL) Google unit is the subject of an upcoming antitrust probeby the Justice Department, according to multiple reports. The probe will focus on Google's search and other businesses. (CNBC)
Apple (AAPL) is expected to launch the latest version of iOS, its software for the iPhone and iPad, today at its annual Worldwide Developers Conference.The company has launched a new version of its iPhone software at WWDC every year since 2009, and analysts and reports don't expect this year to be any different. (CNBC)
Facebook (FB) has been in contact with the Commodity Futures Trading Commission about rolling out a digital currency, according to the Financial Times.
SoftBank's bid to raise a $100 billion fund is off to a rocky start, the Wall Street Journal reports. Some of the world's biggest money managers plan to make limited or no contributions to the Japanese technology giant.
Fiat Chrysler (FCAU) is discussing an improved bid for French carmaker Renault, according to Reuters, in order to win backing from the French government for a deal.
Goldman Sachs (GS) is buying Capital Vision Services, manager of the MyEyeDr optometry practices, from a private equity firm and a Canadian pension fund for $2.7 billion, including debt, according to the Wall Street Journal.
Apple – Apple holds its Worldwide Developers Conference Monday and is reportedly set to announce the end of its iTunes store. Bloomberg reports that iTunes functions will be divided among three newly developed applications.
Cypress Semiconductor – The chipmaker will be bought by Germany’s Infineon for $23.85 per share in cash, a 34 percent premium over Friday’s close. The deal is valued at $10.1 billion including assumed debt.
Humana – In an SEC filing, Humana said it did not intend to make a proposal to combine with health insurer Centene as an alternative to Centene’s planned acquisition of WellCare Health Plans. Humana said this statement was a one-time exception to its policy of not commenting on market rumors.
Goldman Sachs – Goldman is buying Capital Vision Services – manager of the MyEyeDr optometry practices – from a private equity firm and a Canadian pension fund. Goldman did not reveal financial details but the Wall Street Journal reports that the deal is worth $2.7 billion.
Blackstone Group – Blackstone is buying industrial warehouse assets from Singapore logistics provider GLP For $18.7 billion, in what Blackstone said is the largest-ever private real estate transaction.
Boeing - Some of Boeing’s 737 MAX jets may have faulty parts, according to the FAA. Boeing said it has identified 20 jets that most likely to have faulty parts and plans to check another 159 for the same parts.
Macau Casino Market Share! It zynga poker chips seller india was a modest drop of 3.7% , but it was enough to signal that something might go macau casino market share terribly wrong.! Online Casino Mit Echtgeld Startguthaben Ohne Einzahlung 2019! Sands China and Galaxy Entertainment are the two dominant casino operators in Macau, controlling a 45.5 percent market share of the richest gaming hub on planet Earth. Casino gaming: share of market revenues by global region 2015 Age of people playing gambling games for the first time in France 2017 Industry revenue of “gambling industries“ in the U.S. 2012-2024 Casino hotel industry market size in the U.S. 2010-2020 Number of employees in the casino industry Great Britain 2011-2019 Impact of the coronavirus on revenues of online gambling in Italy 2020 ... Macau (MNA) – The gaming revenue results of gaming operators Sands China and Galaxy Entertainment Group (GEG) represented 46.6 per cent of Macau’s gaming results in the first half of the year, according to a report by brokerage Deutsche Bank, accessed by newspaper Tribuna de Macau. It Macau Casino Market Share 2020 is your own responsibility to determine if gambling online from your current location is legal. Playing casino games involves risk and should be considered a fun, recreational activity, not a way to earn an income. Macau Casino Market Share 2020 Please gamble responsibly. Macau casino GGR falls 79pct in full year 2020: govt. Jan 01, 2021 Newsdesk Latest News, Macau, Top of the deck . Macau’s casino gross gaming revenue (GGR) shrank 79.3 percent year-on-year in calendar year 2020, amid the disruption to travel and the economy caused by the Covid-19 pandemic. The data was... Read More. 2020 pandemic forced casinos to evolve: experts. Dec 31, 2020 Newsdesk Japan ... Gaming industry experts say Macau casino floors will rev back up in 2020. (Image: Philippe Lopez/Getty) Gross gaming revenue (GGR) stands at $30.56 billion January through October 2019. Market Performance The Bloomberg Intelligence index of Macau casino operators rose 3.9% in December, paring its decline for the year to 11%. The benchmark Hang Seng Index added 3.4% for the month. Market Share Of Macau Casino free casino with all the opportunities that we mentioned earlier, is the option to play anywhere, anytime, no matter where you are or what Market Share Of Macau Casino time, since being online and have a 24 / 7 Market Share Of Macau Casino there are no limits.
COVID-19: Macau casino shares surge as China eases border ...
Subscribe to our YouTube channel for free here: https://sc.mp/subscribe-youtube Macau's casino industry is increasingly chasing more mass-market gamblers and... Aimed at the mass market, Oceanus took just 15 months to complete, at a cost of HK$ 1.5 billion. Not a great sum of money compared with other new casino developments in Macau, but its enough to ... Big show in Macau as the Olympic torch passes through Chinese casino city Harry Curtis, analyst at Nomura Instinet, discusses Wynn Resorts' warning about a slowdown in Macau. MGM Macau is a 35-story, 600-room casino resort in Sé, Macau. Under a sub concession approved by the Macau government, the project is owned and operated as a... This video is unavailable. Watch Queue Queue. Watch Queue Queue I created this video with the YouTube Video Editor (http://www.youtube.com/editor) #macau #street #foods #to #do Shares in Macau's casinos have surged after China eased COVID-19 border restrictions. From July 15, people crossing the Macau-Guangdong border will not need ... Crackdown on corruption in China and fewer high-spending mainlanders means takings are down in the gambling hub. Macau is South China's answer to Las Vegas, a gambling hub and magnet for high ... Macau has become the world's most lucrative gambling market, overtaking Las Vegas with casino revenues soaring 57% in 2010. Macau's casinos are attracting tourists from all over the world.