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January revenues up 34% YoY

It looks like January table revenues will come in at HK$17.4 billion.  After adding in an estimate for slots, total gaming revenues will fall short of our HK$18.5-19.0 billion estimate at HK$18.2, up 34% YoY.  Business slowed in the last week more than we thought in the lead up to Chinese New Year.  In terms of market share, Wynn continues to suffer from low hold and we are hearing LVS held pretty well the past week.  MPEL’s share actually grew from an already healthy clip and looks like the most interesting stock in the group.  Here are the numbers:

 MACAU: FULL MONTH JANUARY - macau111