Macau’s casino gross gaming revenue (GGR) fell 3.8% year-on-year in the third quarter of 2026 because a decline in mass baccarat outweighed broadly stable VIP baccarat revenue, according to data released by the Gaming Inspection and Coordination Bureau (DICJ).
Casino GGR totaled MOP60.22 billion (US$7.46 billion) in the July-September period, which was also 1.3% lower than in the second quarter.
Mass baccarat, a category that covers both mass and premium mass baccarat, generated MOP33.61 billion (US$4.17 billion). This was down 7.9% from a year earlier and 4.4% from the June quarter.
The segment remained the largest source of casino revenue with 55.8% of the quarterly total, compared with 58.3% a year earlier.
The annual drop of MOP2.88 billion (US$357 million) in mass baccarat exceeded the overall decrease in casino GGR, while gains in other categories partly offset the loss.
When slot machines are included, total mass-market gaming revenue declined 5.2% year-on-year to MOP43.31 billion (US$5.37 billion), and it was 4.0% lower than in the second quarter.
Slot machine revenue on its own rose 18.8% year-on-year to MOP4.09 billion (US$507 million), although it slipped 0.5% from the previous quarter.
VIP baccarat generated MOP16.91 billion (US$2.09 billion) in the third quarter. The figure was 6.3% higher than in the previous quarter but only 0.1% above the level of a year earlier.
The sequential gain came after an 18.8% decline in the second quarter, and VIP revenue still stood 13.6% below its first-quarter level. Its share of casino GGR rose to 28.1%, up from 26.1% in the second quarter and 27.0% a year earlier.
In the first nine months of the year, VIP baccarat revenue reached MOP52.38 billion (US$6.49 billion), an increase of 9.9% year-on-year. Growth had stood at 15.2% in the first half.
The DICJ’s method of calculating VIP GGR differs significantly from that of the concessionaires. The bureau bases its calculation on how it segments certain gaming tables within the city’s integrated resorts, while operators typically report VIP as a much lower percentage of gaming revenue.
Outside casino gaming, football betting revenue increased 49.0% year-on-year to MOP152 million (US$18.8 million). The quarter included the closing stages of the 2026 FIFA World Cup, which ended on July 19. Basketball betting revenue grew 4.8% to MOP44 million (US$5.5 million).
Macau’s GGR outlook has been subdued in recent months due to factors such as the World Cup in North America and capital controls in China. However, Chief Executive Sam Hou Fai recently stated that the government has given no consideration to lowering its 2026 GGR forecast from the previously stated benchmark of MOP236 billion (US$29.2 billion).