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MACAU REBOUNDS IN WEEK 2

On track for another big month.


 

Macau rebounded strongly from a “soft” first week of August.  Table revenue per day increased from HK$646 billion in the first week to HK$792 million in the past week.  We think the full month of August will come in the range of HK$22.0-23.5 billion, up 44-53% YoY.

Market shares have normalized a bit from the first week as one would expect.  MPEL rebounded from a low hold percentage in week 1 and is now at 14.1% for the first half of August.  Still below trend but still above the Street in HK$ terms as far as we can see.  LVS looks weak at 13.5%, down from 15.0% in week one.  Wynn continues to impress with market share in line with the pre Galaxy Macau numbers.

MACAU REBOUNDS IN WEEK 2 - macau 081411