Macau mass baccarat revenue falls 7.9% in the third quarter

Mass baccarat revenue in Macau was MOP 33.612 billion in the quarter ended September 30, 2026, 7.9% below the MOP 36.496 billion the Gaming Inspection and Coordination Bureau (DICJ) recorded for the same quarter of 2025 on its 2025 tables. That percentage is the gap between the two cells, divided by the 2025 cell.

Games of fortune, the casino total, fell 3.8% to MOP 60.215 billion from MOP 62.570 billion. Slot-machine revenue rose 18.8% and VIP baccarat rose 0.12%. The six concessionaires licensed by DICJ still ran 20 casinos. The fourth-quarter column is a dash, so the year is not closed.

Mass baccarat carried the quarterly decline

The mass-baccarat gap is MOP 2.884 billion. Games of fortune fell by MOP 2.355 billion on the same comparison.

Other rows moved the other way. Total gross gaming revenue (GGR), adding the small lottery lines to the casino total, was MOP 60.415 billion against MOP 62.718 billion a year earlier, a 3.7% decline. VIP baccarat was MOP 16.906 billion, MOP 20 million above the third quarter of 2025.

Subtract VIP baccarat from total GGR and the remainder is MOP 43.509 billion against MOP 45.832 billion, a 5.07% fall. The same subtraction inside games of fortune leaves MOP 43.309 billion against MOP 45.684 billion, a 5.2% fall.

Roulette was MOP 425 million against MOP 344 million, up 23.5%. Texas hold'em was MOP 238 million against MOP 233 million.

The tables set 1 Hong Kong dollar at 1.03 patacas. Figures in this piece stay in patacas.

VIP baccarat was 27.98% of total GGR in the third quarter, against 25.98% in the second, when the VIP row was MOP 15.901 billion and total GGR was MOP 61.207 billion. Macau Business wrote on October 18, 2026 that the share had slipped from the previous quarter. The two cells do not support that reading. The share rose.

A lower take is not a safer floor

Gross gaming revenue is the hold, what the house kept, not cash collected at the cage. DICJ does not publish drop or handle, so a lower mass-baccarat figure is not evidence that players beat the house. It can be fewer hands, smaller stakes, or the way the results fell. Tables stayed at 6,000 and slots at 12,000, the same as every quarter of 2025. The mix shift is not a smaller floor.

No return-to-player figure is on these tables.

A separate look at 18-to-24-year-olds as the fastest-growing gambling age group answers a different question from whether a Macau pit got easier this quarter.

Macau Business on October 18, 2026 dated the 2026 World Cup from June 11 to July 19, 2026 and treated it as one factor in the quarter. Only July 1 to July 19 falls inside the quarter. The cells are not monthly, and they do not show visits or amounts wagered.

Slots rose without a single extra machine

Slot revenue rose 18.8% to MOP 4.091 billion, from MOP 3.445 billion, an extra MOP 646 million on an unchanged 12,000 machines. That cell is 6.8% of games of fortune. Mass baccarat was still 55.8%.

A quieter baccarat pit and a busier slot floor can share one building.

Grosvenor machines gained 14% in the quarter ended September 30, 2026, at Rank Group, regulated by the UK Gambling Commission. That is a different operator in a different market. It does not explain the Macau machine row.

Each of the six concessionaires is licensed by DICJ, and none changed its casino count. S.J.M. had five, Galaxy Casino S.A. three, Venetian Macau S.A. five, Wynn Resorts (Macau) S.A. two, Melco Crown (Macau) S.A. three and MGM Grand Paradise S.A. two, 20 in all. The English table still prints S.J.M. and records the former name, Sociedade de Jogos de Macau, S.A., with the new name effective on June 24, 2021. It also still prints Melco Crown (Macau) S.A. The 2024 column showed 30 casinos, and the third quarter of 2025 showed 28.

The fourth quarter of 2025 was MOP 66.063 billion in games of fortune, MOP 5.848 billion above this year's third quarter. Add that older finish to the MOP 187.116 billion already booked and the total is MOP 253.179 billion, MOP 5.775 billion above 2025.

This article is informational analysis only and is not gambling or financial advice. Figures are as attributed in the text.

18+Gambling carries financial risk and can be addictive. If you or someone you know needs help, visit GamCare (UK), call 1-800-GAMBLER (US), or see our Responsible Gambling page. 18+ only.