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Gaming revenues still on track for 85% YoY growth in May.

According to our contacts on the ground in Macau, preliminary numbers through May 23rd have reached HK$11.9bn, and still look on track to hit HK$16bn for the month of May.  So far, there doesn't appear to be any gaming slowdown in sight for VIP volume even though Golden Week has ended.  Wynn Macau (HK:1128) and MPEL, our favorite Macau names, continue to retain their share gains from LVS. 

Below are the MTD market shares: