Key points:
- Gross gaming revenue for Q1 stands at MOP 576.6bn ($71.6bn), up 0.6% year-on-year
- The mass market segment contributes nearly 75% of total revenue
- VIP revenue remains steady but far below pre-pandemic levels
Macau’s gross gaming revenue reached MOP 576.6bn in the first quarter of 2025, according to figures published by the Gaming Inspection and Coordination Bureau and reported by Macao Daily. This represents a modest year-on-year increase of 0.6% and is approximately 76% of the MOP 761.5bn recorded in the same period in 2019.
The mass market segment contributed MOP 432bn, accounting for around 74.9% of total revenue. This marks a slight rise of 0.6% compared with the same period in 2024 and an increase of 10.9% in the first quarter of 2019.
Revenue from the VIP sector amounted to MOP 144.6bn, representing 25.1% of total gaming earnings. While this shows a marginal increase from the MOP 143.8bn recorded a year earlier, it remains considerably lower than the MOP 372.1bn registered in the first quarter of 2019. At that time, the VIP segment accounted for nearly 49% of total revenue.
The data reflect that Macau’s gaming recovery remains uneven, with fluctuations in regional travel patterns and consumer confidence continuing to shape performance. While the mass market is demonstrating greater resilience, the absence of a robust VIP rebound may limit near-term growth, particularly in the face of macroeconomic uncertainty and evolving regulatory dynamics.
