As expected, average daily table revenues slowed from the May holidays but were up strongly over last year. We’re still projecting 16-20% YoY GGR growth to HK$29.5-30.5 billion for the full month of May. This past week’s ADTR of $798 million climbed 12% YoY, following up on May’s first week’s 24% YoY increase. I was in Macau late last week and the operators were overwhelmingly bullish as were other market participants.
In terms of market share, MGM and Sands China made big jumps week over week, although LVS remains below trend albeit only slightly. Thus far, MGM and Wynn are the big winners versus trend.