BUSINESS

MacVegas sees sequential decrease

TAGs: Macau, revenues

macau-sequential-decreaseUsually at this time of the month, glowing figures are released telling everyone how well Macau is doing, and how far they’ve got with proceedings to change their name to MacVegas. Well this month, for the first 28 days of November, gaming revenue hasn’t grown as quickly as it did in October.

Don’t be at all alarmed though. The 9% sequential decrease month-to-month was expected, as Wells Fargo Securities’ Carlo Santarelli commented in a client note.

“We note that the sequential slowdown from October to November is in line with the average sequential dip experienced in 2008 and 2009.”

He did add that gross gaming revenue was on track for 41% year-on-year growth (US$2.15billion) but a decrease is just that.

Good news was reported for the Wynn Macau that has now garnered a 16.4% share of the market and is “having a strong November” after moving up one position in the rankings. They’re now above Sands China with 15% but Stanley Ho’s SJM Holdings are way out in front with a 32.3% share of the market. SJM also leads in terms of table game gross revenue for the current month. It makes it more acceptable that Mr. Ho splashed out on those truffles.

If anyone’s there’s feeling particularly down, just remember you now have the Playboy club to cheer you up.

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