Macau's gaming market recorded mixed results in the third quarter of 2026, as lower mass-market revenue contrasted with stable VIP baccarat and stronger slot machine performance.
Data from the Gaming Inspection and Coordination Bureau (DICJ) showed non-VIP gaming revenue, primarily comprising mass-market table games and slot machines, declined 5.08% year over year to MOP43.5bn during the three months ending September.
Mass-market baccarat generated MOP33.6bn, down 7.9% from the corresponding period in 2025. Slot machines moved in the opposite direction, with GGR rising 18.8% to MOP4.1bn.
VIP baccarat revenue remained largely unchanged at MOP16.9bn, representing a marginal 0.12% year-over-year increase. The segment accounted for 27.98% of total GGR during the quarter, slightly below its share in the previous three-month period.
The July-to-September period also overlapped with the 2026 FIFA World Cup, which ran from June 11 to July 19.
The latest quarterly breakdown comes as Macau maintains its full-year 2026 GGR forecast of MOP236bn despite four consecutive months of year-over-year declines.
Chief Executive Sam Hou Fai said cumulative GGR reached approximately MOP187.1bn through September, leaving around MOP48.9bn required during the final three months to reach the Government's annual estimate.
Monthly gaming revenue has recorded year-over-year declines since June following three years of post-pandemic recovery. Authorities are assessing whether the slowdown reflects temporary domestic and external factors or comparisons against stronger results in previous periods.
October will provide another indication of the market's direction. Visitor arrivals increased during the Golden Week holiday compared with last year, although authorities are still evaluating whether the growth translated into higher gaming revenue.
Macau is keeping its MOP236bn 2026 GGR forecast despite four months of year-over-year declines
