Takeaway: Macau posted the worst comp in almost 2 years.

CALL TO ACTION

The latest numbers from Macau continue to reach new weekly lows in 2014. While this was expected given the forthcoming visit by the Chinese President this Friday/Saturday, estimates will continue to be revised lower until the bleeding stops. 

We remain below the Street for Q4 and 2015 for all the operators. The good news is that the Street is finally cutting estimates but the bad news is that the Street is still not low enough. 

Please see more details in our note: CLICK HERE