Macau Q2 GGR Slips 7.4% as Baccarat Continues to Lead Casino Earnings

Macau's gaming market experienced a sequential slowdown in the second quarter of 2026, with total gross gaming revenue (GGR) reaching MOP 61.2 billion, a 7.4% decline from the MOP 66 billion recorded in the first quarter, according to the Gaming Inspection and Coordination Bureau (DICJ).

The contraction was primarily driven by a drop in games-of-fortune revenue, which fell to MOP 61 billion from MOP 65.9 billion in the prior three months. Despite the quarterly dip, casino games still accounted for virtually all of Macau's gaming income.

Baccarat remained the strongest single game type, generating MOP 35.2 billion in gross revenue during Q2, representing roughly 58% of all games-of-fortune takings. VIP baccarat contributed an additional MOP 15.9 billion, though both segments saw declines from Q1 levels.

Several smaller verticals posted modest gains. Slot machine revenue edged up to MOP 4.1 billion from MOP 4 billion in Q1, while live multi-game revenue rose to MOP 1.3 billion. Roulette, Fan Tan, Cussec and craps also registered slight quarter-on-quarter increases.

Sports betting showed mixed results. Football betting was a standout, with gross revenue climbing to MOP 126 million (up from MOP 90 million) and turnover rising to MOP 1.4 billion from MOP 1 billion. In contrast, basketball betting revenue dropped to MOP 50 million from MOP 73 million, with turnover falling to MOP 518 million.

Chinese lottery revenue eased to MOP 3 million, while instant lottery remained negligible. Horse racing generated no revenue during the quarter, following the closure of Macau's horse racing operations earlier in the year.

For the first half of 2026, Macau's total gaming revenue reached MOP 127.2 billion, including MOP 126.9 billion from games of fortune. Gaming capacity was unchanged in Q2, with 6,000 tables and 12,000 slot machines operating under the current concession framework.