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.
