No change to January projection
Average daily table revenue (ADTR) dropped from HK$782m per day in the first 8 days of January to HK$546m this past week. However, volumes typically fall off dramatically prior to the Chinese New Year (CNY) celebration. While the second week of January’s ADTR only increased 3% this year versus last year, ADTR was an estimated 30% higher than the corresponding lead-in week to CNY last year. Our HK$23-24 billion (+32-40% YoY growth) January forecast remains unchanged.
Market shares were relatively consistent with last year with the exception of a shift of about 200bps back to SJM from LVS.
