February gaming revenues hit all-time high at $36.9b

It's a whopping 40.3% jump.

According to Barclays, Macau’s total gross gaming revenue (GGR) for February was at a new record high of MOP38.0bn (HK$36.9bn), +40.3% y/y, according to data from Macau’s Gaming Inspection and Coordination Bureau. 

This surpassed October 2013’s HK$35.4bn GGR. The January and February combined GGR growth is at +24% y/y.

Here’s more from Barclays:

The February full-month data also implies that the last five days of February saw table GGR of cHK$1.25bn a day, according to our estimates. Compared to levels of HK$1.13bn and HK$1.19bn a day for 17-23 Feb and 10-16 Feb, respectively, this suggests that strong revenue momentum in Macau continued.

We highlight that March runs into a higher base comparison, as March 2013 was a particularly strongmonth. If we assume table revenues per day of HK$1.0-1.1bn, we estimate y/y growth in March wouldbe in the range of 5-16%, which would be slower than February's growth rates. 

However, we expect the base effect to normalize again in April, and we believe that April should still seeat least a mid-to-high teens y/y GGR growth rate. We maintain our 15% GGR growth forecast for 2014, and we maintain our positive view on the Macau gaming sector.