We don't think November's GGR release will be a pretty one for the Strip
November Nevada gaming figures will be released this Thursday, the 10th. As we wrote in "LV STRIP: BACK IN RED FOR NOVEMBER" (12/31/2012), we're projecting November Strip gaming revenue to fall between -6% and -10%, assuming normal slot and table hold. We're starting to think we may even be too conservative with that estimate. Difficult slot hold comps (8.4% vs normal of 7.5%) and sluggish slot volumes will certainly pressure slot revenue. Moreover, November 2012 has one less Friday relative to November 2011. Finally, the Pacquiao vs Marquez 3 fight occurred in November 2011 while Pacquiao vs Marquez 4 took place in December 2012. The 2011 fight contributed to a 7% increase in table drop last year in November.