Macao’s gaming industry continued its upward trajectory in the third quarter of 2025, lifted by a sharp rebound in VIP play and sustained growth in mass-market gaming and tourism, Inside Asian Gaming reports.
According to data released by the Gaming Inspection and Coordination Bureau (known by its Portuguese initials DICJ), the city’s total gross gaming revenue (GGR) reached 62.6 billion patacas (US$7.83 billion) between July and September – up 12.5 percent year-on-year.
However, VIP baccarat jumped 29.1 percent year-on-year to 16.9 billion patacas (US$2.11 billion), increasing its share of the market to 26.9 percent.
That was still far below its third quarter peak in 2013, when VIP baccarat made up 64.6 percent of Macao’s GGR at 57.8 billion patacas (US$7.22 billion). The game still made up 43.8 percent of Macao’s total GGR in the third quarter of 2019.
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However, government crackdowns on aspects of the VIP sector – particularly junket operators – over the past few years have seen its importance to the city’s gaming industry dwindle.
Mass baccarat’s share of the GGR pie, meanwhile, dropped from 61.1 percent a year ago to 58.2 percent for 2025’s third quarter.
Total GGR for the year to end-September came in at 181.3 billion patacas (US$1.06 billion). When averaged, this number is equivalent to 20.14 billion patacas (US$2.51 billion) per month – higher than the government’s revised monthly GGR forecast of 19 billion patacas (US$2.28 billion).
