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LEISURE & ENTERTAINMENT | Staff Reporter, Macau
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Macau's mid-January average daily table revenue jumps to HK$731mn

It's much better than previous reporting periods.

In Macau gaming, average daily table revenue improved to HK$731mn for the period of 19-25 January.

According to a research note from Barclays, this was higher than the previous two reporting periods (5-11 January and 12-18 January) that saw daily table revenue of about HK$690mn.

The report noted, meanwhile, that GGR for January could show decline of 16% y/y.

If it is assumed that the rest of January sees average daily table revenue of HK$690mn plus Barclays' assumption of slot revenue of HK$0.9bn for the full month, the gross gaming revenue (GGR) for January could show a decline of 16% y/y to HK$23.4bn, on Barclays' estimates.

Here's more from Barclays:

We continue to expect GGR to fall by 8% y/y in 2015. We expect 1H15 to see a GGR decline of 19% y/y, but we expect the resumption to 5% y/y growth in 2H15 on a lower base comparison and new casinos ramping up.
Our preferred stocks are Galaxy and Melco Crown, both rated Overweight.

Table-only market share data for 1-25 January (January MTD): Compared with December 2014, MPEL, Galaxy and Wynn saw larger market shares for January MTD while Sands, MGM and SJM saw smaller market shares for January MTD.

MPEL (MPEL US, Overweight): January MTD market share was 15.0%, continuing to gain market share from 14.8% for December.

Galaxy (27.HK, Overweight): January MTD market share was 22.9%, a higher market share compared with 21.0% for December.

Wynn (1128.HK, Equal Weight): January MTD market share was 10.4%, slightly higher than 10.0% for December.

Sands China (1928.HK, Overweight): January MTD market share was 19.1%, slightly lower than 19.5% for December.

MGM (2282.HK, Equal Weight): January MTD market share was 9.9%, lower than 10.4% for December.

SJM (880.HK, Equal Weight): January MTD market share was 22.7%, lower than 24.3% for December.
 

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