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Slot volume is the metric we watch closely - and growth is accelerating 

  • Nevada numbers are out and slot handle gained 1% YoY in April, with the 3-month rolling trend on track to break out to the upside this summer
  • We believe May will start off a string of growth months for Vegas slot volume
  • Due to unfavorable demographics, we still believe the long-term trend is negative. However, better near-term results should boost sentiment.
  • MGM is the obvious trade on the long side on the data.  MGM's strong Macau ramp should also contribute to higher near-term estimates.

CHART DU JOUR: CORE LV METRICS IMPROVING - vegas  1