Gross gaming revenue generated by Macau’s VIP baccarat segment grew by 29.1% year-on-year to MOP$16.9 billion (US$2.11 billion) in the September quarter, according to latest figures from the Gaming Inspection and Coordination Bureau (DICJ). VIP was also 3.4% higher than in Q2.
The collated third quarter results, published Thursday, show that VIP baccarat was the biggest gainer for the period, tracking well ahead of mass baccarat which grew by 7.1% year-on-year and 2.6% quarter-on-quarter to MOP$36.5 billion (US$4.56 billion).
As a result, VIP baccarat also saw its share of market-wide GGR grow from 23.5% a year ago to 26.9% in 3Q25. Mass baccarat subsequently saw its share of the pie fall from 61.1% to 58.2%, based on the DICJ’s figures.
Total industry GGR for the September 2025 quarter was MOP$62.7 billion (US$7.83 billion), up 12.5% from a year earlier and 2.4% higher than in Q2.
Although VIP GGR exhibited significant improvement for the quarter, it is still well below its 3Q13 peak when VIP baccarat generated GGR of MOP$57.8 billion (US$7.22 billion) or 64.6% of industry-wide revenue.
The decline of the sector is linked to the demise of the junket industry following the collapse of industry giants Suncity Group and Tak Chun Group in late 2021 and early 2022. There are reported to be 29 licensed junkets operating in Macau as of today – below the government’s cap of 50. There had been back in 2013 as many as 235 junkets operating in the city.
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