Posted on: April 1, 2026, 08:22h.
Last updated on: April 1, 2026, 08:25h.
- Macau experienced a strong March, as casino revenue hit $2.8 billion
- March 2026 was Macau’s third-best gaming month since 2019
- Premium mass players are betting more, analysts say
March in Macau surpassed analyst expectations for monthly casino revenue, as gross win climbed 15% to MOP22.61 billion (US$2.8 billion).
The consensus estimate for gross gaming revenue (GGR) in March was around MOP22.2 billion. The city’s Gaming Inspection and Coordination Bureau reported on Wednesday that the region’s six casino operators topped those projections.
March’s GGR represented a 9.8% climb from February and brought first-quarter casino revenue to $8.16 billion. That’s 14.3% ahead of last year.
The March tally represented the Chinese Special Administrative Region’s third-highest revenue month since the onset of the COVID-19 pandemic in late 2019. Only October 2025 at MOP24.1 billion and January 2026 at MOP22.63 billion have been higher.
Financial services firm Citigroup said during its monthly check-in report that more high-volume baccarat players were found inside the casinos. Citigroup also reported higher per-wager bets among premium mass players.
Baccarat is the table of choice in Macau, with the player versus banker game accounting for almost 90% of the Chinese casino hub’s monthly gaming revenue.
Macau Player Definitions
A high-volume baccarat player is a gambler who bets exceptionally large sums, typically in private VIP rooms.
Also known as whales, a high-volume player is typically defined as someone betting MOP$500,000 to MOP$2 million per hand (US$62,000-$247,900). The premium mass player, who has become more in focus after Beijing forced out VIP junket groups amid the COVID-19 pandemic, has a wider range for bets, but often has no problem putting down tens of thousands of US dollars per hand.
Macau casinos located on the glitzy Cotai Strip often have high baccarat minimums, with the Venetian Macau and Wynn Palace often demanding at least US$1,000 per play. The minimums can climb as high as US$10,000 during peak times.
Baccarat minimums on the historic downtown peninsula are typically much lower, but are still usually at least $100 to $300.
Stock Bumps, April Outlook
March’s strong revenue outcome for the six casinos in Macau is expected to provide a stock bump during Wednesday trading. Las Vegas Sands, MGM Resorts, and Wynn Resorts futures were all trading higher before the New York Stock Exchange and Nasdaq opened.
Analysts expect April casino revenue to grow more than 10% year-over-year to around MOP20.9 billion (US$2.6 billion). If realized, Macau’s gaming market would post six consecutive months, dating back to November 2025, where casino win hovered between MOP20.6 billion and MOP22.6 billion, suggesting a sense of more stable and predictable growth.
However, unrest in the Middle East, causing oil and supply chain concerns, continues to threaten China and Macau’s near-term economic outlook. On Wednesday, President Donald Trump claimed Iran’s president wants a ceasefire.
