and the 2900 room venetian macau.e plans on adding another property to be completed by the end of 2016. bringing the grand total to over 10,000 rooms. if he has his way, visitors would never leave. >> we are now developing enough retail malls of different types. you can be in 3000, 6000, 12,000 or 15,000 hotel rooms and never leave the building. i will give you a short anecdote. i had a friend from boston that came in with his wife. they came in on thursday. on monday, he said, how is the weather? i said, you have not been out? he said, why would i go out? everything i want is here. >> lawrence ho is talking about shows that are coming in. it is retail, it is restaurants. they are copying you. >> yes they are. they are trying to copy me. he's a nice guy and a gentleman. he has no exhibition and convention space. there is not a city in the world that does not want exhibition space and convention space. >> as many of adelson's peers have noted, it is his very success in macau that has left las vegas in the dust. a point

the resorts in macau are world-class compared to las vegas. macau has taken off.

what i go further in, 70% of the business is based out of macau. liz: what is wrong with macau? they have issues, doesn't they. >> they have a lot of issues and government anticorruption drives, causing less vips to go to macau. wynn is one of higher end kazoo seen knows. they might get affected more than other casinos. liz: there is global slowdown. we have bifurcated situation, u.s. looks good and other areas -- >> wynn doesn't have exposure to vegas. they might see softening from that. liz: you said two. >> imax. everybody sees move voice. a average family spends $80 to go out to movies. are they willing to pay a premium to see three d.o.e. movie? if gravity come out they're happy to see it. imax has not had any blockbusters in the last quarter. more than 40% of the revenues are in the u.s. they do great it china but u.s. markets are dragging them down. liz: i thought "transformers" was a block with user it? >> how much translated to imax revenues was disappointment. liz: we're excited with the "star wars" movie. let's get to positive surprises. >> allstate. have you heard of

and macau is in greater china where gambling is legal. solo we feel the slowdown will continue in china, we think macau is a place where there are well managed companies that can continue to tap into rising consumption coming out of china and with other countries around the region. >> and let's talk about your fund. performance has been strong over the long-term. it's 4.7 billion sterling today. why should people consider investing in asia by an equity fund with the yield criteria? >> we're looking to maximize total return coming from growth and income. and i think if we can generate an average yield of let's say 4.5% over time and get a growth rate of 4.5%, as well, giving a total return of nine on average, we think that will outperform most asset classes. there are plenty of growing companies across europe. good dividend is a good sign of corporate governance. >> and let's talk about tapering back in may 2013. that hit markets strongly. have things changed in asia over the last 18 months? >> yes. there was a bit of a panic in may last y

everybody paying attention to what's been happening in macau.he numbers over the several months have not been good. >> slipping and those stocks have been slipping right along with them and the most exposed over there is wynn, my favorite name as well. i think these numbers come back and wynn is an opportunity when sold off well underneath $200 a share. >> coming up tech in breakup mode. first ebay and now hewlett-packard. who could be next. we're going to ask silicon valley insider and co-founder of paypal max levchin. stick around for a friendly competition. we know stephanie has the best golf swing. really? >> yes, you do. >> is she also the best chipper in the group? >> yeah. >> yes. >> she is. >> we're going to test the trader skills from liberty national in two minutes. a pm par that dares to work all the way until the am. new aleve pm the only one with a sleep aid. plus the 12 hour strength of aleve. ♪"in the hall of the mountain king"♪ plus the 12 hour strength of aleve. [beeping on the computer] peter come take a look at this. [beeping

is athink macau phenomenally successful financial market.ino market, but we are also not las vegas. growing, ouris market is changing. that i have been there, and particularly in the last two years, the median age of customers has gone from 50 to 44. that is a seismic shift on 40 million visitors. and 40 million is a high watermark for las vegas. younger,ucation level, higher household income. the mix of our market has changed. it is a hypercompetitive market. there is always money coming into the market, and people are going after what we do. we need to continue to lead the charge and stay current and stay contemporary. i think our owners are committed to doing that. >> how has online gambling been successful for your business where it has been a failure in atlantic and thecity? >> it is a governmental. it is a completely different experience. i do not think online gaming were save us if iwe dying, and i do not think it will save atlantic city. >> can anything save atlantic city? i think they need to focus on creating a destination. >> have

shares of casino operator nguyen macau shot up after posting better than expected earnings. this also pushed up sector peers such as galaxy entertainment. >>> negotiators taking part in the trans-pacific partnership free trade deal ended their latest meeting just two days ago. but they'll sit down again at the end of next week. minister in charge says top trade officials of the 12 countries will be meeting in beijing on november 8th. akira amari met with members of a panel from the ruling liberal democratic party. he briefed them about the talks that ended in sydney on monday. he said japanese and u.s. negotiators made progress on some outstanding issues. those include tariffs on five categories of farm products. >> translator: a lot of key, difficult issues, remain unresolved. we will continue the discussions with the u.s., and with all of the other nations involved. >> amari said negotiations are nearing the final stage. the talks in beijing will be held on the sidelines of a meeting of the asia pacific economic cooperation forum. >>> the people at the japanese finance min

before i go, by the way, i just want to mention, also casino stocks here, macau stock get get nice. i'm not making that up. get nice. it operates a hotel and spa and toffers investment services in hong kong, midsize company. about $22 million in revenue last year. they are basically saying expect a significant drop in first half profit. that's here in hong kong. agile property resumed trade today after being halted for about a week. it opened about 30% lower. short of it is billionaire founder is now under -- well, under the control, quote control or house arrest, however you want to put it, of chinese prosecutors who required him to stay at a designated residence. since the evening of september 30th. pushing down the stock about 21% at this point. rich, back to you. >> thank you, david. rosa giving corporations something of a boost in his late environment budget speech, let's have a close are look bloomberg tv. sophie, very good day to you. any big surprises in this speech? >> hey, rich. there wasn't much in the way of surprises but there was certainly something for taxpayers to ch

macau, hong kong.ts own thing than then you've got a lot of islands in the east china sea and south china sea. a large swath of geography, all the way to the philippines, bordering indonesia and very close to malaysia and they want to recoup the lost territories. the problem is you've got about five other countries that claim the same thing, so that takes us to where we are today and what we need in order to address it properly is a code of conduct for these islands. japan is going after two of the islands. the chinese call them by different names. they send in coast guard cutters, naval vessels, theaf aerial patrols and some of them get downright dangerous because they're close to one another. at some point we need to call a time-out, recognizing there will be no solution in the short term for this issue around island sovereignty and we must get busy writing a code of conduct. the united states can be a big part of this. china doesn't like the thought but we can at least be an honor -- honest broker,

the united states and in the developed countries, but we also see that they're likely to happen in macau. they're going to happen in taipei and taiwan. and it would not surprise me at all, despite the fact the chinese government has really tried the crack down on anyone searching relevant social media terms around the hong kong protests within mainland china to, see some forms of sympathy there. that's one of the reasons why i think the president, who has been very willing to engage in policies of economic transformation on the mainland, but has had no interest in political reform, this is not a gloucester nos guy, he's very unlikely to show any flexibility whatsoever, as is the hong congress government in responding to these protests. occupy central has now become occupy hong kong. as of tomorrow it's likely to become occupy larger than that. and if local police through threat and selective arrests are unable to disperse these demonstrations, we're likely to see a very significant violent crackdown. >> woodruff: what do you mean by that? if these protesters not going away and the centra

macau casinos down for the fourth straight month. a five-year low.ambling hub bracing for fallout from the protests in hong kong. total revenue in september was 3.2 going dollars, a decline of 12%. a toronto asset management firm a bankruptcy auction for the former rebel casino hotel in atlantic city. on the dollar. it cost $2.4 billion to build, iting $110 million to buy out of dickerson. here's one, bitcoin plunging to its lowest level. >> i'm shocked. >> the price fell nearly 20% in the past couple days. bitcoin remains popular among speculators and technology enthusiasts, despite its history of fluctuations. >> the smoke you saw out of blackrock's chimneys. no report of whether it was my are black. -- white or black. >> as if this were the vatican. >> do you have a track record on bitcoin? >> there are not bonds in bitcoin. we did not have to worry about whether it was the right valuation. >> which what you focus on? the periodical underpinnings of the experiment or on the technology and efficiencies of barter and. transaction. isthe interesting

you can expect a impact on fashion impact on macau gaming. it will all be negative.e will see the impact over several months. the longer-term view, if you take a three-year view, people might reassess hong kong as a base for operations. a multinational corporation could choose singapore rather than hong kong. a longer-term assessment that could change, as well. >> let's talk about the hong kong-shanghai. you have a playbook ready. everybody is wondering about when this thing is going to get off the ground. what happens in terms of your playbook when it actually comes to fruition? >> the playbook is two parts. there are arbitrage trades. namesare some shanghai that are cheaper than their hong kong names. we would see demand from different sets go up the border -- go up across the board. investors will benefit from diversification. for hong kong investors, they can go north and by utility names and other names much cheaper on shanghai. the yields are better. trade,sentially the same arbitrage trade. china is the cheapest large market out there. there are a lot of blue-

. >> this is a macau from south america. they are a fun pet. i do have one.u told me he talks, but when he wants to. >> yep. >> and he actually communicates and doesn't just mimic. >> yep. i definitely think that. >> can you get her to talk? >> they don't talk on command. he's not scared today, are you? >> he's not scared, but you might be a little anxious because your show proceed mirrors tomorrow on nat geo. check it out, 10:00 o'clock on nat geowild. >> thank you for joining us. >> good luck on the subway home. >>> coming up, are you better off today than you were four years ago? the president thinks so, but the polls don't agree and neither does senator marco rubio. he joins us live from florida next. >> are you afraid to let him go? ♪ ♪ i have a cold. i took nyquil but i'm still stuffed up. nyquil cold and flu liquid gels don't unstuff your nose. really? alka-seltzer plus night rushes relief to eight symptoms of a full blown cold including your stuffy nose. (breath of relief) oh, what a relief it is. thanks. anytime. know that chasing performance and few

came back from macau. >> we did.of johnny depp, i'm carrying the two suitcases, johnny law dogs all over me. you should have seen how we got away with that. >> that great scene at the dog track where we were running out the back door. >> seriously you guys can go on notorious. >> we had to jump 30 feet straight into a sewer. >> what's coming up next, willie. a tease. >> still ahead, we have the latest polls from five key battleground states. plus the gap that actually wasn't. >> this is terrible what happened to scott brown. >> this guy set him up. >> he didn't mean to. >> he set him up. scott brown shows he knows his new hampshire geography better than a panelist at the debate last night. what sweden did yesterday that had israel taking a shot at ikea. >> how dare they. >> a bridge too far. we'll explain that when "morning joe" comes back. ♪ [ male announcer ] this man has an accomplished research and analytical group at his disposal. ♪ but even more impressive is how he puts it to work for his clients. ♪ morning. m

mass market growth in macau up 15%, so china is a long-term positive play. >> mark, let's get a takeaway -- if there was one thing to buy any the credit markets today, what would it be? >> we like bank loans. you're basically getting four part 5%, you have low interest rate risk, you have -- 4.5%, you have low interest rate risk, this is a great asset loan to own. >> are there any hedge funds knocking on your door saying mark, here is my books, take me out of it? >> if they are, we will take the other side. this is a great time to be pimco. we hope those hedge funds call us because we will be taking the other side for our clie nts. >> mark, absolutely great having you on this morning. you can have matt and i talked to all day. mark kiesel, the chief investment officer for a reason of global credit over at pimco and the guy who gets to live in california. >> what a lovely place, newport each. i would work for a pimco even. >> even? maybe even more now. >> coming up, what will the fed do next? we will talk with st. louis fed president james bullard. why not go to the source? we will do tha

. >>> hundreds of casino workers at flagship macau casino walked off the job today demanding better wages and benefits. good morning to you. can you hear us, susan? a little delay. we will try her in just a little bit. >> it does sound like they are a little closer. >> and it felt like the protests weren't -- we had this build up this week as if announced doesn't seem to be -- >> as many in the ranks as they had. >> yeah. >> a tipping over point. >> but it did make you think, didn't it, about what's going on in china, political oppression there and what happens if there's an issue like that. you start to spin that out and it gets to be very difficult or how does the u.s. respond to china like it did with russia with sanctions? >> i think that's a long way away. >> but that's what i started thinking about this week. >> like what we do with ebola, too, right? we thin et out. >> do you think it's crazy to think what if china were to clamp down on protesters there? >> no. but the stakes are high and i think they realize the world is watching. >> and it's complicated because china worries desp