this is basically a chart of the number of casinos in macau, we have 35 casinos, how big is the macau business? las vegas sands gets less than 16% of revenues from las vegas, singapore is bigger than las vegas but macau is the bulk of the story, they have done more than $40 billion in gaming revenues. only thing is you see at the upper right-hand corner in yellow, there actually aren't going to be new casinos online until 2015 at the soonest. so basically what we have is a supply constrained market over there. and you can see that in how much they are actually getting to bill for their hotel rooms. you can see it in their occupancy rates, which are higher than they are in las vegas. so this is kind of the ideal situation for the casinos, i think that is one of the reasons we're seeing these things. it's not just the growth in revenues, they are starting to trade at higher multiples, the expectations is that strength in the gaming industry will translate into significantly higher margin. >> what's your trade? >> the thing is all these stocks we're starting to see the options premiums d

if they made "swingers 2," macau baby, macau. >> i am not sure that what happens in the cal states andlot of it goes to the world's 12 richest mand. bloomberg cat a sit down over the weekend with mr adelson, casino. the macau-sands abandoning a plan to build a resort in spain. he explained what uncertainty had to do with that decision. this would be the largest real estate development ever undertaken on a commercial basis. i cannot and neither can any other company of four to bet -- afford to bet that kind of money, $35 billion. a new government could come into power and change everything that is part of the agreement. i needed some sort of indemnification. that is a englander, problem. europe is not able to give guarantees to business that it will not be disrupted. >> europe is still recovering and in the early stages of recovery from the debt crisis. to be the most placid year, politically, europe has had. comeng ahead, as elections up, we have european parliamentary elections in may, other elections -- the dissatisfaction among people who have suffered from the crisis will result in

i'm told the sunday played in sports that since one should not be the same due to the top price at macau golf of god and to go in this court in indymedia. though the team of the badminton to be the simple clinched the women's singles title at the mo open concrete gold ornaments the eighteen year old woman with eleven the woman with plenty of emotional stamina twenty one fifteen twenty one two and included seven minutes to win the backing flush the undeniable of the water baby. the prize money of my uncles and all those from the bottom of it all forgot to include all one hundred and twenty poles and illness i was confident going into the finding of the defeat of the chinese did and knew that if i did not make mistakes i can and the type of singles the top of the match. this often goes code remarkable given the cia off to poker in the militia opened in may chills of the game and asphalt in singles matches the one time to talk with them. golf other than when it came to suspicion to a victory that is cool when the initial open on sunday wilson a closing three under par sixty eight for sixtee

gaming in macau, it is a duly insulated trade.s people game and you do not make as much on each individual gambler, but you make more because of growth. if the economy gets bad and china, the high end consumers want to get their money out of the country and they go to macau to move it out. they make more money than the average gambler. >> do you think it helps to like gambling to understand gambling? >> no. i do not think you have to like it. at the end of the day, i do not really understand it. i do not look like you are not a gambler -- i do not. >> you are not a gambler. >> that just means you know how much you lose. >> you gamble on stocks. is notated investment gambling. putting your money down on red or black where you have no control, that is gambling. if you buy general orders -- if you buy general motors. >> kyle bass love it. it, they cleaned up their balance sheet and bankruptcy, they got rid of the government stock overhang, the constant selling pressure. there is a recovery in the trucking business. go to north dakota

in the gaming space, you have stocks with exposure to macau and stocks without exposure to macau. >>your favorite, richard? >> we would recommend las vegas sands. here -- gray great hair except me. it used to be highly protectable cash flow. in your world, richard, are the cash flows as predictable as they have always been? thereuming the revenue is , the cash flows -- >> lockstep. >> pretty much. we are at a point where cash flows, profits, are going to be growing at a greater pace than revenue because of what we call operating leverage in the business. after a certain point in revenue, the profits kick in. >> how do you feel about the casinos popping up, whether it is in cleveland, delaware, boston? could one say it is getting saturated? i was there the day they opened the horseshoe casino in cleveland. to me it did not feel like a booming business. is good,ental growth but at a certain point you face economic saturation. the risk that comes with that is cannibalization where you have new casinos stealing business from existing casinos. >> i agree with brian. it is not an open secr

in a key oil producing region accused by the president of attempting a coup which he denies react macau said in a phone interview that his side was ready to stop by milk and wanted a peaceful settlement but she insisted that his political allies had to be released from detention first the condition can be dismissed by the government the overtime or a mole people displaced by the comfort of filling up all available space in un compounds that are warnings that many more may seek shelter spiking continues on with it an accident as to the ship eos is that ten people dead dolphin a beat up the cup size eight is the victim so that he has no to others for civilian workers several always inject the accident happened when the vessel was being led into the sea of tomato that's something you stick to one side taking on water. sepang is the lace d rialto monday night's snowfall from the french capital. the incident happened at a depth that can lead to some parents find it on the scene said that the notice given the environment it's a tough call for an end to the transportation of radioactive waste

. -- in macau. we're involved with tencent.arned about what the chinese government wanted to do. we thought alibaba was undervalued. run by a guy who was very difficult and pick our pockets with this paypal look-alike. we thought that at worst, alibaba was worth $100 billion. the economist did a wonderful article and said that a few months ago, the possibility could be the most valuable company in the world. the numbers now suggest looking at the sweater tied valuations -- this company make lots of money -- looking at this twitter type valuation. this company makes lots of money. it is greater than the market cap of the stock. >> do you see a scenario where alibaba goes public and yahoo! hurt?art -- yahoo! is >> yahoo! will have to sell half of their shares in the aberrant. there'll be more burden on recep -- on marissa. domestic business of yahoo! is valued at 10 times. previously you are being paid to take it away. >> one thing that has moved the evaluation on yahoo! is dan drum forging the mercer mayertting in place. he sold

central africa macau bank. now returning to tennis callously linda mentioned the country's first a little over and landed have taken photos of each other on the moon's surface. it came a day after the town of three native soft landing the fires in four decades making time in the third country to sell after the united states and the former soviet union the name alex at the break still be in a photo session jubilation at mission control jonah three lander and robert have taken pictures of each other just what the and teen years were waiting to see they had presentation was noble and complete. it is received to work here the move although i am into our current city in a stable condition. i mounted my appetite month remission to call it a success. he got all . the jonah three lander is equipped with several cameras including a cine camera and extreme ultraviolet image they can take ten pictures a second they do to rob our cat was a pet rabbit camera real time the new transmission the camera provides that will image

well macau holocaust is first full day of freedom was a day for unification with family here in berlin his son told us this is son pavel who'd flown from new york told us that the whole family had been reunited and that they were all very happy he really appreciates all of the support that he has received through lee's years and all the people that have cared for him here story over the past ten years his mother has been here in berlin quite a quite a lot in the recent past she has been receiving cancer treatment here and a bill in city hospital. they were one that was a fact the whole reason behind because of course he's been granted the presidential pardon on humanitarian grounds was the the ill health of his mother's press secretary of the russian president dmitry peskov who is the the spokesperson for the to me of food and now he said that khodorkovsky remains a russian citizen he is a russian citizen he's free to return to russia whenever he would like and live there should he want to also he said that he's he's free to stay here in germany should he want to as well it's pretty mu

yes i'm so just outside the hotel where we believe macau how to spend his excuse me where mikael khodorkovsky spent his first night of freedom in ten years. from his own press service in a statement that they released we understand that he has already had a meeting with his son pavel who flew from new york to to be reunited with his father and that he hopes to be soon able to meet with his mother and father who are who have been in russia now his mother has spent rather a lot of time here in berlin she's been receiving treatment for cancer here at a city hospital and it was that the illness and the state of health of his mother that led to mikhail khodorkovsky having his petition for a pardon being granted on humanitarian grounds so he hopes to be reunited with his with all of his family very very shortly now in terms of the status now a statement from law to me of putin's. spokesperson to meet the press corps well he said that of course he remains a russian citizen and he's free to live in russia if he would want to or he can come and live here in germany now you also outlined exactly what w

the next the future of macau. being the number one topic in foreign media since the former russian old tycoon walked free of a presidential pardon from go to cost his plans to fight for his imprisoned comrades to putin's reasons for letting him out of jail the five days since the release of it for speculation and analysis not because public office from the u.k. magazine politics first has been following the media hype and explained why he thinks called a cost he's been glorified in the west. if. he had done what he had done in russia but say in britain where i live he would have been frozen into jail there would have been no mercy from the british major and quite rightly as well of course kate is a criminal but he served his time and that's what a justice system is about but it's important to remember that while his company you course was built on the back of the pain and suffering of the russian people he is not this innocent individual this innocent entity that we are that we are hearing that this is not a man w

political analyst and expert on russian's human relations alexander was one of the first to greet macau horticulture ski on german soil here is what he said his face didn't change in the past ten years i haven't seen him for ten years. and i think he didn't lose his humor he still. very strong. was invited by the former german minister hans dietrich genscher to consult him in his push to release. but are doesn't think the x. or magnus will involve himself in politics in the future but if he does foreign affairs analyst martin c.f. says he has little chance of becoming as powerful as he was in the one nine hundred ninety s. what it's not going to happen is that khodorkovsky is going to be a credible figure in russia he will significant the 1980's the beginning of the twenty first century for two reasons first of all because of his us from now until well from political clout from putting together you cos of the first police and he doesn't have you close conglomerate. but you said more so that's cool and secondly he was a figure from the ninety's he was able to so much wealth as we all gua

well macau holocaust the first full day of freedom was a day of reunification with family here in berlin his son pavel who'd flown from new york told us that the whole family had been reunited and that they were all very happy thrilled to be here in berlin germany even today because my father is free. my family is finally going to see it and we're very very appealing because he . really can hear us and also. how to cause his mother and father had flown here from moscow now his mother has been here in berlin quite a quite a lot in the recent past she has been receiving cancer treatments here and a bill in city hospital the main function shock to me as to come myleene i'm going to see him now i feel like it's one of my regular things the whole reason behind because of course he being granted the presidential pardon on humanitarian grounds was the the ill health of his mother so they have been reunited here in the hotel just behind me the press secretary of the russian president dmitry peskov now he said that the khodorkovsky remains a russian citizen he is a russian citizen he's free to re

you now from the headquarters of artie's video agency ruptly they have crews all over the city of macau how to cope shows up anywhere we'll be able to bring you pictures as soon as possible and put to find out a little bit more about what went on before he arrived here in berlin there was plenty of that as well about where he was going we can now hear from my colleague you go to his funeral. prison work and of course you spent his last days of imprisonment situated around a thousand kilometers of north west of moscow in the town of six years it used to be part of the system during the soviet times was quite a confusing the here where we are some people were talking about him driving off and of course others were talking about this helicopter which took him off directly to germany whole thing came as a complete surprise to everyone including of course his words and his family members you know i can't talk to him because he doesn't have you know what i am in moscow right now. and i don't know anything except for is being said on the radio first of i haven't accepted what has happened yet

macau pataca or the mini is. my wife loves it. -- look how popular the mini is. my wife loves it.ill have billions more people coming online. another billion people online, seven years another 3 billion people. this changes the world. it is happening faster than we can imagine. >> number four, electric cars are proving themselves. tesla has a lot of problems. issues with cars catching fire. it was not an easy year. the new york times trashing tesla for having its car run out of electricity. yet tesla defies the odds and the stock price continues to rise and now tesla is going into china. when year ago we were talking about the end of electric cars. now you have people fearing the rise of electric technology. i drive a tesla. i am biased but i tell you i can't drive a regular car anymore. from an ipod to a cassette player. soon we will all be talking about electric car and wonder how we drove the old internal combustion vehicles. electric cars are happening and are here to stay. it will not be long before we start to grow exponential. if you are right. number three you say tech kno

this follows the demolition of brendan rios macau. >>> there's more on our website, check out, aljazeera.comlso details on how to get in touch with our team. that's all the sport for now. >> jo thanks very much. do stay with us right here on al jazeera, because we have in the full bulletin of us in straight ahead. before that we're leaving you can the highlights from nelson mandela's memorial service that took place in johannesberg. take a look at this. ♪ >> what a magnificent soul he was. we will miss him deeply. my god bless the memory of nelson mandela. may god bless the people of south africa. [ singing ] >> men, women, and children must live side by side dreaming the same dream, realizing at the crew ball of time in our land, we salute you. ♪ come on [ singing ] >> it is a new deal all of us to love him, to keep his memory alive in our hearts and bodies, his example in our lives. ♪ can i get a witness up in here ♪ [ singing ] ♪ no matter ♪ no matter what ♪ >>> and while i will always fall short of his example, he makes me want to be a better man. ♪ >> remembering mandela, tens of thousa

he wants to make macau another place is bigger than they are? >> if only he could.already got five resorts in macao and that accounts for more than half of the revenue than the las vegas sands. he owns more than half the stock but he is building more resorts and that would take him to a total of eight. he is resigned that the eighth one will be the last. can support as many resorts as there is land for. there is no more land left. on which they can put resorts and if it will stay in the same area. acronym for the names of two islands. that is the name of the area. that land is rapidly being used up. we have reclaimed the land. we filled it with the sand and compacted it and put him pilings. they go down almost one -- almost 300 feet. it goes between 35 and 100 meters. there is not very much more. most of the land is already been given up. there is an adjacent island that is maybennel 100 yards away, if that. you couldactually -- stand on one side and yell to the other side and someone could hear you. that is the mainland of china and the mainland of china will not a

singapore -- singapore but taking market share the last quarter the venetian businesses up 20% in macauvegas was down 3% it is up your asia story on the mall side record covers and record revenue this is a stock that has room to the upside. dennis: yesterday analyst were concerned the macao revenue would decrease the paper wrong and it is doing gangbusters as well. dennis: id asia their income is one-tenth but the average debt is three times the best of las vegas so it is a great market and the chinese are stopping people from coming and they control the traffic into the cows so they keep a tight re but they have loosened that up then they will make up that much more. dennis: i interviewed the ceo in 2010 there is a concern when he finally does >> people are worried about succession plans but the business is pretty much established but i will tell you last week the final jeopardy answer was macao and i did get it. dennis: i wonder if it is his wife. >> you think so? dennis:. cheryl: she is very involved she is younger and very involved in the management. >> she would have an influence b

performed by the national captioning institute] [applause] >> russian president putin yesterday parted to macauter castilla -- pardoned mikhail khodorkovsky. ycoon has arrived in germany hours after being pardoned by russian president vladimir putin and freed after a decade in jail." that from the bbc. hold ant obama will white house news conference before he heads off for his holiday break bit that gets underway at 2:00 p.m. eastern. we expect him to talk about a number of issues, including his nomination of senator ask baucus to be the next ambassador to china. we will follow with your phone calls and comments on these -- and on the senate floor this hour they are wrapping up work on nominations. the confirmation vote for brian davis to serve as u.s. district judge, that vote is underway. the senate should finish all of its nomination work ahead of the recess and when they come back in january 6, the vote for janet yellen to be the next federal reserve chairman. in the privacye debate and in the privacy world, i have come to a troubling conclusion. dustry as itker in is today does not have co

wynn macau jumped almost 3% and other big players also rallied. back to you, ross. >> thank you for that. >>> november cpi is out at 8:30 eastern. consumer price res forecast to rise 0.1%, both with and without food and energy prices. also at 8:30, we get the third current account figures. at 10:00, the national association of home builders puts out its monthly housing index later this week. we'll get two other reports on housing. the november housing starts and existing home sales. joining us with her thoughts from ft. lauderdale, sherry olerson. thanks for joining us. >> good morning, ross. >> what is going to be the most notable impact as we move from what's been a fairly good 2013 into 2014? we've got new mortgage laws coming in. how are they going to play? >> absolutely. ross, ul inspect now, it's been about bouncing off the bottom. we are now fwining to brush against the top primarily because of wages and income have not kept up with the home price increases. for example, over the last two years, we know prices are up by 2%. wages by 3%. and