Macau's November gambling revenue surged 42% from a year earlier, but fell short of the record monthly high set in October when patronage climbed during the week-long Chinese National Day holiday at the beginning of that month.

November revenue totaled MOP17.35 billion (US$2.2 billion), up sharply from MOP12.22 billion a year earlier but 8.1% below October's MOP18.87 billion, according to data from Macau's Gaming Inspection and Coordination Bureau.

The figure was in line with Wells Fargo analyst Carlo Santarelli's MOP17.2 billion forecast Monday based on the first 28 days of the month, but much better than the house's original 29% year-on-year growth estimate for November. November's slowdown compared to the previous month was in line with the average sequential dips in November 2008 and 2009, he said.

In addition to the Golden Week holidays, an extra weekend in October also boosted gambling revenue. There were five weekends in October.

Macau gambling revenue in the January-November period rose 57% from a year earlier to MOP169.46 billion.

-By Kate O'Keeffe, Dow Jones Newswires; 852-2802-7002; kathryn.okeeffe@dowjones.com
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