Macau's gaming revenue was 22.63 billion Pataca (HK$21.82 billion) in January, representing a year-on-year increase of 24 percent, higher than the 18.5 percent's forecast, said the Gaming Inspection and Coordination Bureau of Macau.
Macau's gaming revenue for 2025 totalled 247.4 billion patacas, up 9.1 percent year on year, far exceeding the government's earlier forecast of 228 billion patacas. Revenue growth was weak in the first five months of the year but accelerated from June onward, with average monthly revenue rising about 15 percent year on year.
From June to December 2025, gaming revenue grew rapidly, mainly driven by gains in VIP consumption and the premium mass segment. In the second quarter of 2025, VIP baccarat revenue rose 23 percent year on year, compared with 4 percent growth in the premium mass segment. In the third quarter, VIP baccarat growth accelerated further to 29 percent, while premium mass revenue increased 7 percent.
The shift toward higher-end play was partly driven by national security concerns in the Philippines and Cambodia, which diverted customers to Macau, said Zeng Zhonglu, chairman of the Asia Pacific Association for Gambling Studies.
Cynthia ZHONG
