That should get the market's attention. It certainly got mine.
It's back to the drawing board on 2011 EPS estimates. A month ago I revised them down to around $2 from around $2.50 based on the metric of RCT coming in at 8.5-9 x cage capital. Frankly I don't know what to think now. Except to say that EPS looks like it will come in significantly higher than $2.
I've been trying to follow your modeling for earnings. I agree, these results for the last few months have been very unpredictable. $2.2B was way above my expectations. It's hard to know how things will play out for the rest of the year but 2.2B is very encouraging not only for this year's implications but 2012 as well.
I'd say it was attributable to the 5 weekends that the calendar allowed for in July and apparently higher cage capital due to an increase from the Venetian (we already heard Galaxy gave them a $25M credit).
I just returned from Macau in mid April. I owned MPEL until I seen how nice the Galaxy was. Missed the opening but it by far is the nicest casino on the Cotai strip. Wished I would have held my Melco a little longer but I made good money so I can't complain. Hopefully this will start to take off like MPEL. Good luck to everyone.