MACAU JULY ACCELERATING

We estimate table revenue run rate for July is now around HK$15.7 billion which would put total gaming revenue, including slots, at HK$16.4 billion, up 76% YoY.

It looks like July has accelerated in Macau over the past 2 weeks based on the following numbers through July 25th.  We estimate table revenue run rate for July is now around HK$15.7 billion which would put total gaming revenue, including slots, at HK$16.4 billion, up 76% YoY.   We assume acceleration from the HK$499 daily run rate experienced over the first 25 days, since the World Cup slowed things down in the beginning of the month.  Our estimate mid-month was HK$15.2 billion.  Market shares shifted a bit since our last update on July 18th with MGM and MPEL gaining share and Wynn losing share.  We suspect the shifts were hold related.

MACAU JULY ACCELERATING   - MACAU