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As can be seen in the following chart, Macau year-over-year comparisons have been extremely difficult due to primarily to the flood of credit that boosted the Rolling Chip (RC) segment in the first half of last year.  The Mass Market comparisons, while difficult on the surface, were boosted by the opening of The Venetian, which obviously remains open.

MACAU: A SUMMER OF TOUGH COMPARISONS - macau comps

We remain unperturbed about the tough comparisons.  September is not that far off.  Visa restrictions may already have been loosened and most certainly will be when the new CE takes over in November.  For those of you looking for a nearer term catalyst, the June event calendar looks favorable including:

·         The opening of Crown’s City of Dreams in early June

·         G2E on June 2-4

·         The International Indian Film Academy (IIFA) Awards on June 11-13th – “Bollywood” is a big deal these days.