Posts Tagged ‘Blacksmith Books’

Hangover awaits Macau after 2012 feast

January 13, 2013

Macau celebrated the new year in style. On the first working day of 2013, Macau announced casino revenue for December reached 28.2 billion Macau patacas (MOP; US$3.5 billion), a new record, topping the MOP27.7 billion reached in October last year. December registered 19.6 percent year-on-year revenue growth, the biggest increase since April.

For 2012 overall, gaming revenue topped MOP304.1 billion, or US$38 billion, growing 13.5 percent from 2011 to set another new record. All this in a year when the traditional growth engine of high roller VIP play sputtered, the long awaited opening of Sands Cotai Central in two star-studded phases in didn’t pack much sizzle, and tourist arrivals barely grew.

The situation is reminiscent of 2008 when mainland officials first tightened the reins on travel to the Macau, inducing panic and even talk of bankruptcy among casino operators, yet revenues grew 31 percent, topping MOP100 billion for the first time. When licensees gathered for a trade council meeting, one mogul reportedly declared, “Thank God for bad years.”

This year may not deliver such a happy ending. There won’t be any major resort openings during 2013 (nor, in all likelihood, 2014). Macau’s critical transition to mass market focus is still in its early stages. Vacationers who’ve come once must be convinced to lavish their limited leisure budgets and time again on return trips. That’s a growing challenge as Chinese travelers spread the wings further afield and more Asian destinations add casinos to their list of attractions. Moreover, Macau remains almost completely reliant on mainland and Hong Kong visitors and has failed to blossom in the broader international tourism market.

This year’s completion of Beijing’s leadership transition could mean tighter controls on money moving across the border into Macau as part of broader crackdown on corruption. However, VIP volume has staged a mild recovery since November as uncertainty over the potential impact of the Xi Jinping regime gives way to the reality of the new team moving into place. That trend could continue as the year progresses.

Opening of the high speed rail line from Beijing late last year, with an intercity link that drops passengers within yards of the Zhuhai side of the Macau border gate, could boost visitor arrivals. So could operation of a new 24 hour border crossing that’s awaiting approval from Beijing.

But even if more visitors can come, Macau has to do better at giving them reasons to visit. Many of the pieces are already there. Now it’s about assembling them properly, filling in the gaps, and perhaps the greatest challenge, providing the human software to support the billions of dollars in hardware.

Totally globalized native New Yorker and former broadcast news producer Muhammad Cohen is author of Hong Kong On Air, a novel set in his adopted hometown during the 1997 handover about television news, love, betrayal, high finance, and cheap lingerie. See his bio, online archive and more at www.muhammadcohen.com; follow him on Facebook and Twitter @MuhammadCohen.

Royal hoax hand wringing misses point

December 18, 2012

The nurse found hanged following a prank call in connection Kate Middleton’s hospitalization in London was buried in her native India on Monday. was Jacinta Saldanha’s suicide has sparked outrage, mainly directed at the Australian radio hosts Mel Grieg and Michael Christian who called the hospital posing as Queen Elizabeth and Prince Charles. But the disc jockeys, already fired and abjectly apologetic, are merely symptoms of a larger problem.

A much loved woman killing herself and leaving two children motherless over a perceived disservice to the British royal family is the most compelling reason yet to abolish the monarchy. My five year old daughter believes in the fairy tale world of princesses; it’s long past time for Britain to drop this ludicrous mythology. The monarchy is a vestige of times when nations were ruled not by laws and consent of the governed, but heredity reinforced by lies. Pretending there’s a royal family more worthy than the rest of us by accident of birth and frequently flawed marriages insults both people’s humanity and intelligence.

Britain has long encouraged and exploited interest in its royal foolishness. This year’s royal wedding was just the latest example of how Britain uses (and lavishly funds) the monarchy to spur tourism and domestic consumption. Complaining about media violating royals’ privacy is as hypocritical as going to a porn movie and complaining because there’s nudity.

Banishing the British monarchy to the dustbin of history could provide the added advantage of exposing the world’s remaining potentates to the cold light of reality they and their subjects deserve. All people are created equal; accepting that now will avert future tragedies and let all people, not just handsome princes and fair young maidens, reach their potential. We don’t need to keep believing in fairy tales to create happy endings.

Totally globalized native New Yorker and former broadcast news producer Muhammad Cohen is author of Hong Kong On Air, a novel set in his adopted hometown during the 1997 handover about television news, love, betrayal, high finance, and cheap lingerie. See his bio, online archive and more at www.muhammadcohen.com; follow him on Facebook and Twitter @MuhammadCohen.

GOP inside scoop: still chilly on Romney

August 18, 2012

“On behalf of Fox News, let me call this session of America’s Vast Right Wing Conspiracy to order. Vice President Cheney, you have the floor.”

“Thank you, Roger. When we all met about a year ago, there was broad agreement that to defeat Barack Obama we want this presidential election to be about Obama and not about our candidate. To achieve that, it was essential to find the most anodyne, inoffensive, bland candidate possible. And given the field of contenders that emerged, it became clear that our best choice was Mitt Romney. Karl, please continue.”

“Thank you, Master. We believed we had the perfect Stepford candidate in Mitt Romney. A man with no principles, no convictions he’s not willing to change to get ahead, a truly empty vessel of ambition with a recognized Republican pedigree, ready to do precisely as told on the campaign trail and in office. It was like W all over again, but not quite as stupid.”

“Stupid is underrated.”

“I couldn’t agree with you more, Secretary Baker. As I was saying, Romney’s spinelessness and overall lack of character and personality seem like a winning formula. So it came as a shock to discover – credit where credit is due to our opponents – that even a cardboard cut-out of a man like Romney could leave any footprints. Who knew he had a dog, that he had a car, that he had rope? Who imagined that he had a dancing horse? Did any of you ever hear of Palestinian culture or a known Polish soldier? Who would have dreamed there was anything wrong with being your average billionaire next door?”

“Another sign of how that Kenyan Muslim socialist is polarizing the country with his lies.”

“I couldn’t agree more, Ambassador Bolton. But to focus on the future, we need to find a candidate that will seem as innocuous as possible to the American public, someone with no history, no achievements whatsoever, that will give our opponents absolutely nothing to use against him and provide no distraction from Obama.”

“Is there anyone out there who is more white bread than Mitt Romney?”

“Ahem…”

“Of course, black people can be white bread, too, Condi…”

“Thank you, Karl.”

“You’re just not one of them…”

“May I interrupt?”

“Go ahead, Ari.”

“We’re talking about finding someone who’s as close to white bread as possible. But everyone in public life has a history, has a past, has a record, no matter how much they try to cover it up and deny it…”

“What’s your point, Ari? I’m living on borrowed time.”

“Sorry, Mr. Vice President. My point is that if we want white bread, then why not just nominate white bread?”

“Pardon me, are you saying we should nominate a slice of white bread to be the president of the United States?”

“Of course not, Mr. Vice President, Don’t be ridiculous. I’m saying we should nominate a loaf of white bread.”

“That’s the most cynical thing I’ve ever heard, dripping with utter contempt for the American public and the political process.”

“I like it, too, Secretary Baker. How do you think it would poll, Karl?”

“You’ve got the white, which offers an extremely effective contrast with Obama. You’ve got the bread, slang for money in my generation, again a strong contrast…”

“I’ve been sitting here, listening quietly to all of this…”

“And no one told you to change that, Peggy…”

“I felt I had to, Grover, because it seems to me we’re missing a fundamental point. There are a lot of people in this country today that won’t accept white bread. There are Republicans – and Democrats – who don’t want to bring additional carbs in their already difficult lives. There are Republicans, Democrats and independents who won’t accept processed flour. There’s the entire issue of gluten. So I think that we need to think about all of these issues very carefully before we choose a nominee for this election that’s so terribly important.”

“Peggy has a point. Maybe we need to offer the electorate something less controversial than white bread. What about a burger?”

“Karl, have you forgotten my cholesterol?”

“Sorry, Mr Vice President…”

“Something everyone likes…”

“Orange juice. Gets us a lot of traction in Florida.”

“And it’s a morning drink… Morning in America. That’s always been a winner for our side.”

“But we’re going to face a lot of questions with orange juice. Fresh squeezed or frozen? A growing percentage of juice and even oranges come from overseas these days. It could make our candidate the issue again, not Obama.”

“Orange juice and questions both give me acid. We need something more solid, less controversial…”

“Popcorn.”

“No, that’s the movies, that liberal Hollywood crowd. Not the element we’re going for.”

“I’ve got it. A chocolate chip cookie. Who doesn’t love chocolate chip cookies?”

“I agree that people like sweets, but you still have to contend with chocolate allergies, processed flour…”

“Oatmeal raisin?”

“Too lefty.”

“Not to mention fruity.”

“And we’ve gotten awfully far from white bread.”

“Right. It’s got to be plain, inoffensive, likeable but not overpowering or particularly attractive.”

“Whoever invents that will make a fortune…”

“Wait, how about vanilla ice cream.”

“I like it.”

“Everyone does. Who doesn’t like ice cream?”

“And what’s plainer than vanilla?

“Now, with something so white, to broaden its appeal, something brown as a running mate…”

“As always, you make a compelling argument, Condi. But you can’t put two cold candidates on the same ticket.”

“So are we all agreed on vanilla ice cream?”

“Run down the assets for us, Karl.”

“Vanilla ice cream provides a clear color contrast with Obama. It’s very likeable, very desirable, but not the least bit memorable. It’s totally easy to swallow. It’s completely malleable, can be bent and shaped to any position we want. And there’s a huge bonus.”

“What’s that, Karl?”

“It melts away by inauguration day, and then we can run the country any way we want.”

Totally globalized native New Yorker and former broadcast news producer Muhammad Cohen is author of Hong Kong On Air, a novel set in his adopted hometown during the 1997 handover about television news, love, betrayal, high finance, and cheap lingerie. See his bio, online archive and more at www.muhammadcohen.com; follow him on Facebook and Twitter @MuhammadCohen.

Next Hong Kong handover due in 2017

July 1, 2012

Fifteen years ago today was the apex of Hong Kong’s time as the center of the universe. My novel Hong Kong On Air recalls that incredible time.

Fifteen years later, you can debate whether China has become the center of the universe or whether Hong Kong is better or worse now. What’s certain is that Hong Kong has become far more dependent on China. The Asian economic crash of 1997 that immediately followed the handover – but had its causes elsewhere – and the 2003 SARS epidemic combined to turn the tables on the relationship between Hong Kong and China. It may have been a coincidence brought about by events, or it may be the product a calculated strategy by Beijing, but today Hong Kong needs China far more than China needs Hong Kong.

CY Leung takes the helm today as Hong Kong Chief Executive as the unelected head of the territory, chosen by a handful of handpicked Beijing loyalists. Beijing has promised that five years from today the chief executive being sworn in will be chosen in a free, democratic election by all the people of Hong Kong. If Hong Kong and China hope to enjoy a new version of the golden times Hong Kong On Air describes, that promise must be kept. Everyone who loves Hong Kong and everyone who loves freedom should join hands to convince Beijing to keep its word.

Totally globalized native New Yorker and former broadcast news producer Muhammad Cohen is author of Hong Kong On Air, a novel set in his adopted hometown during the 1997 handover about television news, love, betrayal, high finance, and cheap lingerie. See his bio, online archive and more at www.muhammadcohen.com.

Hard ten coming for casinos in Macau

June 26, 2012

This week marks the tenth anniversary of the real start of Macau’s gaming liberalization. The contracts that brought American casino operators Wynn Resorts and Las Vegas Sands to Macau were signed in late June 2002.

Less than two years later, the first Vegas-style casino, Sands Macao, opened. Macau was on its way to becoming the world’s largest gaming destination, with more than five times the casino revenue of Las Vegas last year. Casino operators have pocketed billions in profits from their Macau operations.

It’s been an easy ten years since liberalization, but now Macau casinos face a difficult decade ahead. They must contend with increasing competition from other Asian gaming destinations and among themselves. There’s also uncertainty about the continued flow of players across the border from mainland China, by far Macau’s main market, as Beijing goes through a wrenching leadership change.

But most of all, the casinos must handle the uncertainty of license renewal. As I wrote in Asia Times, gaming concessions will expire by June 2022, giving the Macau government more leverage to demand more from the casinos now. There also a chance that licenses won’t be renewed for one or more of the current concessionaires, most likely an American one, and no clear timeline or guidelines on the criteria for renewal. For casinos, that adds up to a lot of gray hairs and brown noses in the decade ahead.

Totally globalized native New Yorker and former broadcast news producer Muhammad Cohen is author of Hong Kong On Air, a novel set in his adopted hometown during the 1997 handover about television news, love, betrayal, high finance, and cheap lingerie. See his bio, online archive and more at www.muhammadcohen.com.

Titanic lands in Singapore

December 31, 2011

One hundred years after its fateful maiden voyage, the Titanic has landed in Singapore. The blockbuster exhibition of facts and artifacts runs through the centennial of the infamous ocean liner’s sailing in April at the Marina Bay Sands’ ArtScience Museum.

Singapore’s casino resorts both include a museum among numerous non-gaming attractions the government required in the bidding for a gaming license. The Maritime Experiential Museum and Aquarium at Resorts World Sentosa and its counterpart are both state of the art facilities with impressive designs and price tags to match.

As I report in the December issue of Macau Business, the Titanic exhibition showcases the extraordinary versatility of the ArtScience Museum and the skill of its curatorial staff. It’s well worth the rather stiff S$24 (US$18.50) price of admission, even if you have no prior interest in the ship, have never seen the movie, and loath its theme song.

There are other titanic happenings in Singapore’s casino industry that you can read about soon in Asia Times. Until then, thanks for your interest and support throughout the year. Best to you and your loved ones for 2012.

Totally globalized native New Yorker and former broadcast news producer Muhammad Cohen is author of Hong Kong On Air, a novel set in his adopted hometown during the 1997 handover about television news, love, betrayal, financial crisis, and cheap lingerie. See his biography, online archive and more at www.muhammadcohen.com.

Galaxy creates new star in Macau

December 21, 2011

Since opening in May, Galaxy Macau resort has changed the game in the world’s largest gambling market. As I report in Asia Times, the resort has shuffled market shares, making parent company Galaxy Entertainment Group a heavyweight contender among Macau casino operators. Last week, Galaxy Macau opened a state of the art cineplex, highlighting the market savvy underpinning the resort’s success.

Totally globalized native New Yorker and former broadcast news producer Muhammad Cohen is author of Hong Kong On Air, a novel set in his adopted hometown during the 1997 handover about television news, love, betrayal, financial crisis, and cheap lingerie. See his biography, online archive and more at www.muhammadcohen.com.

Tennis bows out in Bali

November 2, 2011

The last WTA tournament of 2011 is also the finale for women’s pro tennis in Bali. The season-ending Commonwealth Bank Tournament of Champions, successor to the Wismilak International that made its Bali debut in 2001, moves to Sofia, Bulgaria, next year under new sponsorship.

As reported in Asia Times, the Bali tournament may have been a victim of its own success as it failed to find local stakeholder support. Tournament director Kevin Livesey hopes to bring a new event to Bali and says that building grassroots support will be a top priority if he succeeds.

Meanwhile, enjoy this year’s finale. Action gets underway Thursday, 5.30pm local time with what could be biggest slugfest of the tournament, world number 16 Peng Shuai meeting former top fiver Nadia Petrova. The nightcap matches defending champion Ana Ivanovic against Roberta Vinci, winner of three tournaments this season. Friday at 5.30pm, world number nine Marian Bartoli, Bali runner-up in 2009, faces Anabel Medina Garrigues, then Bali stalwart Daniela Hantuchova battles hard serving Sabine Lisicki. Each day’s winners meet in Saturday’s semifinals, with victors meeting in the final Sunday

If you’re in the neighborhood, come on down to the Bali International Convention Center at the Westin in Nusa Dua or watch on StarSports. Otherwise, follow along on the tournament website. Just don’t think about November in Bulgaria next year.

Totally globalized native New Yorker and former broadcast news producer Muhammad Cohen is author of Hong Kong On Air, a novel set in his adopted hometown during the 1997 handover about television news, love, betrayal, financial crisis, and cheap lingerie. See his biography, online archive and more at www.muhammadcohen.com.

Disney doubles down in China

October 23, 2011

One definition of insanity is to keep doing the same thing and expect the results to change. The Walt Disney Company, the folks behind Disneyland and Disney movies and TV, has had a tough time in China, but it’s come back for more.

The Cultural Revolution did not televise Mickey and Goofy. Beijing limits movie imports, so the little princes barely know The Lion King, and today there’s still no Disney television channel in mainland China. Hong Kong Disneyland, opened in 2005, has been a US$3 billion disappointment.

Despite the difficulties, Disney is doubling down on China. The company known as The Mouse is building a US$4.4 billion theme park and resort in Shanghai, while Hong Kong Disneyland will get a US$465 million expansion. As reported in Asia Times, these big ticket items are just a small end of an invigorated China strategy for the world’s largest media group.

Totally globalized native New Yorker and former broadcast news producer Muhammad Cohen is author of Hong Kong On Air, a novel set in his adopted hometown during the 1997 handover about television news, love, betrayal, financial crisis, and cheap lingerie. See his biography, online archive and more at www.muhammadcohen.com.

World comes to Bali’s Ubud Writers Festival

September 30, 2011

Bali’s renowned Ubud Writers & Readers Festival kicks off Wednesday, October 5 and runs though Sunday, October 9. Despite drama over festival sponsorship that ended with ANZ Bank coming aboard, this year’s eighth edition of the annual event will have a full complement of more than 100 writers from at least a dozen countries.

The event, founded as a response to the 2002 Bali bombings that left 202 dead, takes on added meaning this year in the wake of last Sunday’s latest church bombing in Java. The festival always features a variety of writers from across Indonesia and Southeast Asia, fostering wide ranging discussions on contemporary national and regional issues. It also brings writers from the across the Muslim world to the country with the world’s largest Muslim population, albeit to Bali, a Hindu island that’s traditionally welcomed foreigners and their cultures.

Western world headliners at this year’s Ubud event include Booker Prize winner DBC Pierre, Pulitzer Prize winner Junot Diaz, and creator of the No. 1 Ladies’ Detective Agency Alexander McCall Smith. Often, though, it’s the writers you’ve never heard of that make the biggest impressions; these festivals are about broadening literary horizons for readers and writers alike.

Totally globalized native New Yorker and former broadcast news producer Muhammad Cohen is author of Hong Kong On Air, a novel set in his adopted hometown during the 1997 handover about television news, love, betrayal, financial crisis, and cheap lingerie. See his biography, online archive and more at www.muhammadcohen.com.


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