• It's Coming...

    MARKET EDGES

    Identify global risks and opportunities with essential macro intel using Hedgeye’s Market Edges.

Table revenues for the first 10 days of November were solid with average daily up 20%+ over the comparable period of last year.  We won’t put too much emphasis on 10 days of data other than to say that we feel comfortable with our full month GGR projection of 17-22% YoY growth.  November should mark a slowdown from the blockbuster October growth of 32% but we believe that is well-known.  Maybe less known is the tough December comparison, which could drive December growth down to the low to mid-teens.

Market shares mean little at this stage of the month but for what it’s worth MGM and MPEL are off to a good start while LVS, Galaxy, and SJM shares are all below recent trend.

MACAU TRACKING TOWARD 20% + - m2

MACAU TRACKING TOWARD 20% + - m3