MACAU: NEW WEEK - SIMILAR PACE

Daily table revenues averaged HK$775 million this past week, in-line with the prior week and well below the first two weeks of the month.  The pre-Chinese New Year timing is clearly a factor.  Our full month projection remains at +7-11%, probably a bit lower than consensus.  So far, it doesn’t look like the smoking ban has had much impact, much to our surprise.

MACAU: NEW WEEK - SIMILAR PACE - macau1

MPEL continues to have a strong month in terms of market share while LVS and MGM remain below recent trend.  

MACAU: NEW WEEK - SIMILAR PACE - a2