Macau VIP baccarat revenue reaches $1.81 billion in Q1 2025
VIP baccarat revenue in Macau hit MOP14.46 billion (US$1.81 billion) in the first quarter of 2025, a slight increase from MOP14.38 billion (US$1.80 billion) in the same period last year, according to the Gaming Inspection and Coordination Bureau (DICJ).
Despite the modest uptick, VIP baccarat revenue remains below pre-pandemic levels, accounting for just 38.9% of the Q1 2019 total, Macau Business reported. At that time, the segment generated MOP37.20 billion (US$4.65 billion), before the onset of the health crisis and an industry-wide crackdown on junket operators in 2021.
Meanwhile, mass market gaming has continued to show resilience, with GGR rising 11% above Q1 2019 levels to MOP43.36 billion (US$5.42 billion). The mass market now accounts for 75% of total gaming revenue, while VIP makes up just 25%—a reversal from the 49:51 ratio seen in early 2019.
Overall, Macau’s total gaming revenue for the first quarter of 2025 edged up by 0.6% year-on-year to MOP57.66 billion (US$7.21 billion), or approximately MOP19.2 billion (US$2.40 billion) per month.
The figure falls slightly below the government’s full-year target of MOP240 billion (US$30 billion), which requires a monthly average of MOP20 billion (US$ 2.50 billion).
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