While a slight slowdown sequentially, average daily table revenues for the past week climbed 45% over the same week last year. ADTR grew only 8% versus the comparable post Chinese New Year week last year (2nd week – February 17-24th). For the full month including slots, we think GGR could grow in the mid 20s% YoY. Going forward, weekly ADTR is likely to slow dramatically and we expect March growth could fall to low double digit growth.
LVS continues to perform extremely well in February with market share considerably above recent trend. While hold may be playing a role, we think volumes are very strong at the LVS properties. Wynn and Galaxy are also trending higher while MPEL, MGM, SJM are well below.