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A modest gain in Strip revenues expected despite tough slot and table hold comparisons.

OCTOBER PROJECTIONS


Based on the latest airport/taxi data and assuming normal slot and table hold percentages, our predictive model estimates Strip revenues grew 1-3% in October.  McCarran Airport October passenger traffic rose 4.5% YoY, while Nevada October taxi trips increased 8.2% YoY. 

Volume growth was likely better than our revenue projection due to tough hold comparisons.  We project total gaming volume ex Baccarat in October grew 7% YoY.  As we mentioned in, “YOU TALKIN’ TO ME” (11/22/11), total gaming volume ex Baccarat has a statistically significant relationship with taxi trips.  October table win growth, however, would only be in the low digits because of a difficult hold comparison last October.

Going forward, November faces a difficult slot comp since hold was abnormally high last year.  The table business is up against low volumes last year but with normal hold.

SEEING GREEN ON THE STRIP FOR OCTOBER - vegas