Gross gaming revenue generated by Macau’s VIP baccarat segment grew by 35.4% year-on-year to MOP$19.6 billion (US$2.43 billion) in the three months to 31 March 2026, according to latest figures from the Gaming Inspection and Coordination Bureau (DICJ). VIP revenue was, however, 3.6% lower than in the December quarter.
The collated first quarter results, published Friday, show that VIP baccarat was again a significant gainer for the period when compared to the same time last year, tracking well ahead of mass baccarat which grew by 6.5% year-on-year and 0.9% quarter-on-quarter to MOP$36.6. billion (US$4.54 billion).
As a result, VIP baccarat also saw its share of market-wide GGR grow from 25.1% a year ago to 29.7% in 1Q26. Mass baccarat subsequently saw its share of the pie fall from 59.4% to 55.5%, based on the DICJ’s figures.
Total industry GGR for the March 2026 quarter was MOP$66.0 billion (US$8.19 billion), up 14.3% from a year earlier but 0.3% higher than in 4Q25.
Although VIP GGR exhibited significant improvement for the quarter, it is still well below its 3Q13 peak when VIP baccarat – driven by the then flourishing junket business – generated GGR of MOP$57.8 billion (US$7.22 billion) or 64.6% of industry-wide revenue.
IAG notes that the DICJ’c calculations of VIP GGR, which is based on how it segments certain gaming tables within the city’s integrated resorts, differs significantly to that of the concessionaires themselves who typically report VIP as a much lower percentage of gaming revenues.
