CALL TO ACTION
While sequentially better due to the May holidays, daily table revenues dropped 40% from the comparable period last year. Comps ease in the 2nd and 4th period of the month so the full month GGR decline should look a little better – we’re forecasting -35% YoY for May. Our thesis remains intact: Street estimates and valuations still do not appropriately reflect the deteriorating trends in the high margin base mass segment.
Please see our detailed note: