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We are lowering our full month GGR growth projection to 14-19% following a softer week in Macau.  Average daily table revenue for the week was HK$781 million, up only 1% from last year and down 11% from June’s rate.  We are hearing that VIP volumes were sluggish this past week. 

MPEL and MGM continue to pace below trend in terms of market share while Galaxy and SGM are trending better.

MACAU SOFTENS - h1

MACAU SOFTENS - h2