Revenues from high rollers, a segment known as VIP gaming in Macau—the world’s casino capital—recorded a year-on-year increase of 35% in the first quarter of 2026, it was announced today.
The so-called VIP baccarat reached revenues of 19.8 billion patacas (2.06 billion euros) between January and March, according to the Gaming Inspection and Coordination Bureau (DICJ) of the Chinese special administrative region. High-stakes revenues had already grown by 24.1% in 2025, although they remain far from the historical peaks reached before the COVID-19 pandemic.
In 2019, baccarat for this segment represented 46.2% of total casino revenues, but in the first quarter of 2026, it accounted for a 29.7% share. The high-stakes sector was significantly impacted by the arrest of the leader of the world’s largest VIP junket operator in November 2021.
Former Suncity CEO Alvin Chau Cheok Wa was sentenced in January 2023 to 18 years in prison, a case that caused the number of gaming promoter licenses in Macau to plummet from 85 to 18. According to DICJ data, the number of licenses has been recovering, reaching 31 by the end of March, though still below the government-set limit of 50.
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Revenues from the most popular game in Macau, mass-market baccarat, also increased by 6.6% in the first quarter compared to the same period in 2025, reaching 36.6 billion patacas (3.85 billion euros).
Mass baccarat represented 55.5% of total casino revenues between January and March, remaining by far the most sought-after game for Chinese gamblers. Meanwhile, electronic gaming machine revenues rose 21.7% to 3.98 billion patacas (419.4 million euros).
Macau is the world gaming capital and the only place in China where casino gambling is legal. Six concessionaires—MGM, Galaxy, Venetian, Melco, Wynn, and SJM—operate in the territory with contracts running until 2034. In the first three months of the year, Macau casinos recorded total revenues of 65.9 billion patacas (7.45 billion euros), a 14.3% increase compared to the same period in 2025.
In the 2026 budget approved in November, the Macau government predicted that gross casino revenues would increase by 3.5%, reaching 236 billion patacas (26.7 billion euros).
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On Wednesday, the Macau Economic Association stated that the region’s Gross Domestic Product (GDP) likely grew by 10% in the first quarter of 2026 compared to last year. “The macroeconomy had a strong start,” the association stated, driven by robust performance in tourism, leisure, and finance, including the upward momentum of the casinos.
