• Investing Insights & Exclusive Offers → Get Our FREE “Market Brief”
    Sign-up for our free weekly newsletter. Get unparalleled investing insights and exclusive Summer Sale discounts on Hedgeye research.

    Disclaimer: By joining our email marketing list you agree to receive marketing emails from Hedgeye. You may unsubscribe at any time by clicking the unsubscribe link in one of the emails. Use of Hedgeye and any other products available through hedgeye.com are subject to our Terms Of Service and Privacy Policy

Low hold on slots and tables in May 2008 should allow the total revenue decline in May 2009 to look better than the 11.5% decline in McCarran airport traffic.  Assuming normal holds on tables and slots, we project that Strip gaming revenue will decline only about 5%.  In terms of YoY revenue change, May could be the best month since September 2008.  As a refresher, gaming revenues declined 16% in April 2009 which was the 7th consecutive double digit monthly decline.

Before we get too excited though, our sources indicate that June looks a little weak and the hold comparison is a little challenging.  Las Vegas is not yet out of the woods.

MAY STRIP REVS SHOULD LOOK BETTER THAN AIRPORT #S - May Strip metrics