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The Chinese New Year celebration is providing the kick start we thought.  Here are the trends and comps.

  • According to Lusa, Macau daily GGR reached HK$1.34 billion for the 1st six days of Chinese New Year 2014.  Compared with the daily HK$999MM for the 1st seven days last Chinese New year, that translates into 35% growth in daily GGR on a CNY basis.  On a calendar basis, daily revenue may have come close to doubling.
  • CNY GGR usually picks up 7-14 days after the new year i.e. Jan 31, 2014.  Hence, GGR may be even higher for this coming week.  
  • The chart below shows very easy comps for the 1st half of February due to calendar differences.
  • The 2nd half of February laps last year’s CNY pickup and will be considerably more difficult at HK$1,030 ADTR.  But if we use December as a ‘normal’ run rate without any holiday distortions, we shouldn’t see a precipitous decline.
  • We continue to believe February could generate 20% YoY growth