February gaming growth revenue predicted to slam October 2013's record

It could escalate 15% for 2014.

According to Barclays, average daily table revenues in Macau remained strong at HK$1.133bn during 17-23 Feb. This was similar to the previous period (10-16 Feb) at HK$1.192bn/day.

Feb could see at least 33% y/y growth while Jan/Feb combined at over 20% y/y growth.

Here’s more from Barclays:

Even if we assume the remainder of February sees table revenues at a conservative HK$850-900mn/day (for reference, Jan was running at HK$865mn/day), and if we add in our HK$1.2bn slot GGR assumption, this would imply overall GGR of HK$34.9-35.2bn for the full month of February, representing 33-34% y/y GGR growth.

February overall GGR could be potentially comparable to October 2013's record-breaking overall GGR of HK$35.4bn.

January and February combined (removing the impact from the Chinese New Year timing difference) could then see strong GGR growth of at least 20% y/y. We forecast 15% GGR growth for 2014, and maintain our positive outlook on Macau gaming stocks. Our top pick remains Galaxy (27.HK; OW).

Table-only market share data for 1-23 Feb (Feb MTD): Compared to January, month-to-date (mtd) market share for February saw Sands China, Wynn and Galaxy gain in market share. SJM, Melco and MGM China lost market share.