Gross gaming revenue hit record high of $36.9b in February

VIP revenues jumped 37%.

According to Barclays, Macau gross gaming revenues (GGR) for February 2014 were +40.3% y/y to a record high of HK$36.9bn. Average daily table-only revenues were strong at HK$1.264bn.

Mass revenues were +52% y/y. VIP rolling volume was +35% y/y, and VIP revenues were +37% y/y. Slot revenues were also +24% y/y.

Here’s more from Barclays:

We look at Jan/Feb on a combined basis to eliminate the impact of the Chinese New Year timing. Total GGR was +24% y/y. Mass revenues were strong, +38% y/y. VIP volumes were +19% y/y and VIP revenues were also +18% y/y. Slot revenues were +11% y/y.

Sands China, Galaxy and Wynn gained market share in February, compared to January. MGM and SJM lost market share. Melco saw lower market share in February, but this was due to a lower hold rate.

Sands China (1928.HK; Overweight): Sands China surpassed SJM and became the market leader with a 25.1% market share in February. This was helped by market share gains in both the mass and VIP segments, as well as a strong hold rate.