Average daily table revenue (ADTR) in Macau was HK$775 million in the past week, down from HK$930 million in the first 10 days. ADTR actually fell 1% year-over-year. The first 10 days of the month were actually quite positive with hold percentage running high at most places sans Wynn. We predict that gross gaming revenue year-over-year growth will be in the range of 10-14%. Right now, Las Vegas Sands (LVS) looks to be the leader in terms of gaining market share while WYNN struggles.