Macau VIP baccarat revenue hits post-Covid high in third quarter
Macau’s VIP baccarat segment recorded its strongest performance since the onset of the COVID pandemic, with gross gaming revenue (GGR) reaching MOP16.89 billion ($2.12 billion) in the third quarter of 2025, official data showed.
The latest figure was slightly higher than the MOP16.33 billion reported in the previous quarter and marked a 29% year-on-year increase from MOP13.1 billion in the third quarter of 2024.
So far in 2025, VIP baccarat has generated MOP47.67 billion ($5.96 billion) in revenue, equal to about 87% of the full-year total in 2024, underscoring the segment’s continued recovery, as reported by Macau Business.
Macau’s gaming industry had seen a months-long winning streak earlier this year, with August posting the best monthly GGR since the pandemic. However, the momentum eased in September, and analysts have cautioned that October’s Golden Week performance may prove soft, suggesting a possible cooling in growth after the summer rebound.
That slowdown has prompted JPMorgan analysts to cut their monthly and quarterly gaming forecasts.
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