Macau's gross win increased 15% to MOP22.61 billion (US$2.8 billion) in March, above analyst forecasts for monthly casino income.

Gross gaming revenue (GGR) in March was estimated by consensus to be around MOP22.2 billion. The six casino operators in the area exceeded those estimates, according to a study released on Wednesday by the city's Gaming Inspection and Coordination Bureau.

With a 9.8% increase over February, March's GGR increased first-quarter casino revenue to $8.16 billion. That is 14.3% more than the previous year.

The total was the third-highest income month for the Chinese Special Administrative Region since the COVID-19 outbreak began in late 2019. Only MOP24.1 billion in October 2025 and MOP22.63 billion in January 2026 were greater.

More high-volume baccarat players were discovered inside the casinos, according to financial services company Citigroup's monthly check-in report. Additionally, Citigroup noted that premium mass gamers placed larger wagers per wager.

Nearly 90% of Macau's monthly gambling revenue comes from the player versus banker game, Baccarat, which is the preferred table. 

Definitions of Macau Players

A high-volume baccarat player is a gambler who places extraordinarily large wagers, usually in exclusive VIP areas.

High-volume players, also referred to as whales, are usually characterized as those that wager between MOP$500,000 and MOP$2 million (US$62,000-$247,900) every hand.

The premium mass player, who has gained greater attention after Beijing expelled VIP junket groups during the COVID-19 outbreak, has a larger betting range yet frequently has little trouble staking tens of thousands of US dollars per hand.

High baccarat minimums are common at Macau casinos on the opulent Cotai Strip; the Venetian Macau and Wynn Palace, for example, frequently demand at least US$1,000 each play. During periods of high demand, the minimum can reach US$10,000.

Although they are usually substantially lower, baccarat minimums on the historic downtown peninsula are still frequently between $100 and $300.

April Outlook and Stock Bumps

The six Macau casinos' impressive March revenue results are anticipated to boost stock prices on Wednesday. Before the New York Stock Exchange and Nasdaq opened, futures for Las Vegas Sands, MGM Resorts, and Wynn Resorts were all trading higher.

Analysts predict that casino income in April will increase by more than 10% year over year to around MOP20.9 billion (US$2.6 billion).

In November 2025, when casino winnings ranged from MOP20.6 billion to MOP22.6 billion, Macau's gaming market would record six consecutive months of increase, indicating a more steady and predictable trend.

However, China's and Macau's short-term economic prospects are still in jeopardy due to the upheaval in the Middle East, which raises issues with oil and supply chains. President Donald Trump asserted on Wednesday that the president of Iran desires a cease-fire.