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Through July 18th, Macau table revenues were HK$8.58 billion, implying a +60% month.

Macau is booming again, thanks in part to the end of the World Cup.  Through July 18th, Macau table revenues were HK$8.58 billion.  That number implies approximately HK$14.5 billion in table revenues for the whole month of July.  If we add in expected slot revenue HK$0.7 billion, we are now projecting total July Macau gaming revenues of HK$15.2 billion, up 64% from July 2009.  While not exactly a tough comparison – July 2009 was up 3% YoY – this is the first of many positive monthly comparisons Macau will face.  August 2009 climbed 17% and September was +54%, so the comparisons do get increasingly more difficult.

Here are the table revenue market shares.  MPEL and Galaxy look like the big winners in July relative to where they were in June and all of Q2.  Encore continues to keep Wynn’s market share above 17%.  LVS looks like the sequential loser with its share falling to under 19%.  If LVS’s share holds through the rest of the month, it would represent an all-time post-Venetian low for the company.  MGM is having an awful July in terms of market share.  Mr. Kwong is needed now more than ever and September can’t come fast enough for MGM.

MACAU TABLE REVS BOOMING AGAIN - 3