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Despite record comparison, October 2012 should post solid YoY growth

  • Assuming post-Golden Week trends in 2011 are carried forward in 2012, we believe Macau table revenues growth for October may come in at the high end of our 4-9% projection range.  Even when adjusted for high hold in October, the calculation yields growth in the middle of our range.
  • Last October, average daily table revenues (ADTR) post Golden Week slipped 2% relative to that for Sept 2011
  • October gaming revenues could hit a new record month.  Easier comps should contribute to accelerating growth in November and December.

CHART DU JOUR: MACAU OCT TABLE REVENUE PROJECTION - macau234