Macau VIP Baccarat Revenue Jumps in Early 2026
Macau has long been associated with baccarat, and while many people now enjoy online baccarat from home, the game is still central to the city’s land-based casino industry. This is particularly true at the VIP level, where baccarat has long been popular with high rollers.
The latest figures from Macau show that the VIP part of the market has started 2026 extremely well. VIP baccarat generated MOP19.56 billion in gross gaming revenue during the first quarter of the year, which is equivalent to around US$2.43 billion. This was a huge 35.4% increase compared to the first quarter of 2025.
An Impressive First Quarter for VIP Baccarat
According to figures released by Macau’s Gaming Inspection and Coordination Bureau, VIP baccarat accounted for 29.7% of all gross gaming revenue from games of fortune in the first quarter of 2026. This is a significant increase from the same period in 2025, when the segment accounted for 25.1% of the total.
However, the figures do need to be placed in context. While VIP baccarat revenue was much higher than it was the previous year, it was slightly lower than in the final quarter of 2025. Compared with the fourth quarter of last year, VIP baccarat revenue fell by 3.6%.
Nonetheless, the year-on-year increase is important. Macau’s casino market has spent several years rebuilding after the disruption caused by the pandemic and changes to the VIP gaming sector. Hence, a 35.4% rise in VIP baccarat revenue suggests that high roller play remains an important part of the city’s industry.
Macau’s total gross gaming revenue from games of fortune reached MOP65.87 billion in the first quarter, up 14.3% compared with the same period in 2025, which means that VIP baccarat made up close to a third of the market during the quarter.
Mass Baccarat Still Leads the Market
Despite the rise in VIP baccarat revenue, the mass-market baccarat segment remains much larger. In the first quarter of 2026, mass-market baccarat generated MOP36.56 billion in gross gaming revenue, which was up 6.5% year-on-year. It accounted for 55.5% of Macau’s total gaming revenue during the quarter.
This shows that Macau’s recovery is not only dependent on VIP players, which is good news for the casino operators. The city has worked hard to attract a broader range of visitors, and mass-market baccarat has become the main driver of casino revenue.
This is a real achievement, as before the pandemic and the changes to junket operations, Macau was much more heavily dependent on VIP play. Today, the situation is more balanced, with mass baccarat providing a stable base and VIP baccarat bringing extra revenue.
Other gaming areas also performed well in the first quarter. Slot machine revenue rose by 21.6% year-on-year to MOP3.98 billion, while electronic table games also contributed to the overall total.
What the Figures Mean for Macau
The first-quarter results suggest that Macau’s casino industry is continuing to recover, but not in the same form as before. VIP baccarat is growing again, but it is no longer the dominant force in the market. Instead, it exists alongside a much stronger mass-market segment.
High-end baccarat remains very profitable, but a broader customer base makes the market more resilient and sustainable. It also fits with Macau’s wider efforts to become less dependent on gambling alone by developing more entertainment, retail, and tourism attractions.
However, operators will be aware that there are still risks. VIP baccarat revenue can move sharply from one quarter to the next, and regulatory changes remain an important factor. Macau is also affected by wider economic conditions in China and the region, which can affect how often high roller players travel and how much they spend.
Nonetheless, the early 2026 figures are positive, and baccarat is still at the center of Macau’s casino industry, from the mass-market tables to the VIP rooms. If you’re looking for a world-class destination to play baccarat, then Macau looks set to be an excellent choice for the foreseeable future.
