written and last updated by
Sam Smith at
17 Apr 2025
Journalist, Editorial Department
In the first quarter of 2025, gross gaming revenue (GGR) from the mass market segment in Macau reached 43.2 billion patacas (approximately $5.4 billion). This figure slightly surpassed the same period last year, accounting for about 75% of the total revenue generated by the entertainment industry in the region.
According to data from the Gaming Inspection and Coordination Bureau of Macau (DICJ), the current figure is 10.9% higher than the mass market level recorded in the first quarter of 2019, which was the last stable period before the onset of the COVID-19 pandemic.
Overall, the total gross gaming revenue in Macau for the quarter amounted to 57.66 billion patacas (around $7.2 billion), with 74.9% of this revenue coming from the mass market segment. Baccarat generated the highest income, reaching 34.32 billion patacas (approximately $4.3 billion), which accounted for 59.5% of the total revenue.
VIP baccarat revenues totaled 14.46 billion patacas (about $1.8 billion), marking a 3.3% increase compared to the previous quarter. This segment represented 25.1% of the overall revenue for the first three months of 2025.
The report from the DICJ also highlighted revenue from slot machines, which brought in over 3.27 billion patacas (around $400 million), capturing a 5.7% market share. This figure was 1.7% higher than last year.
Despite these positive industry indicators, Macau's Chief Executive Ho Iat Seng once again expressed concerns about the risk of a budget deficit. He warned that such a deficit could arise if monthly gaming revenue falls below 15 billion patacas (approximately $1.9 billion).
It is worth noting that Macau's casino revenues reached record highs in the fourth quarter of 2024.
