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Huge week boosts our March revenue estimate to HK$18-19 billion.

Macau surged again this past week generating HK$623MM in table revenue per day versus HK$524MM the previous week.  For the month to date, table revenue per day averaged HK$581MM for a total of HK$11.6 billion.  Due to the strength, we are upping our March forecast to HK$18.0-19.0 billion, representing 37-40% growth over last year.  We are hearing the Mass floors at most casinos have been very busy which should be good for margins.

In terms of market share, the local guys are stealing the show.  SJM and Galaxy’s market share has been surging, both well above the 3 month average.  The three US operators have all fallen below trend.  MPEL is holding its gains achieved over the past three months.

MACAU PROVES LAST WEEK WAS A BLIP - macau1

MACAU PROVES LAST WEEK WAS A BLIP - macau2