The latest Macau figures show table revenues average of HK$764 million per day for last week (HK$5.348 billion for the week), down 14% year/year and down 6% month-to-date vs June 2013. As such June will finish down 5% to 7%. This will be the 1st monthly decline since June 2009.
MGM, Galaxy and SJM are outperforming thus far in June in terms of market share while Wynn and MPEL remain below trend. MPEL may have more exposure to squeezed junkets than the other concessionaires which could be contributing to its weak share. Wynn looks to remain conservative in its commission approach given the uncertain environment.