Morgan Stanley's Praveen K. Choudhary just got back from Macau, and he likes what he sees, especially in "mass" revenue growth (as opposed to higher-roller, VIP-type revenue).
...mass revenue has been growing at around 30 percent consistently for the last several months and we expect this to be sustained based on improving infrastructure (driving visitations higher) and continued higher minimum bets on the table...
And Macau is building out aggressively to address all of this new traffic.
...We also expect that 2013 will get benefit of another 250 tables (200 tables will be mass) since Chinese New Year to help it grow at this rate...
Next phase of construction at Cotai is in full swing and should bring more tables/hotels over the next 4-5 years.
Here's the chart. Choudhary also checked out Manila, which he said faces slower growth due to travel bottlenecks.
More From Business Insider