Macau’s casino gross gaming revenue rose 15 percent year-on-year in March to MOP22.61 billion ($2.82 billion), according to data released by the Gaming Inspection and Coordination Bureau (DICJ).
The figure marks the strongest monthly growth rate of the first quarter and confirms a broad upward trajectory across the opening three months of 2026.
Q1 builds on steady monthly gains
March’s result followed a softer February, when revenue came in at MOP20.63 billion ($2.57 billion), representing 4.5 percent growth year-on-year. January had set an early-year high-water mark of MOP22.63 billion ($2.82 billion), up 24 percent on the same month in 2025.
Taken together, the three months produced a Q1 cumulative total of MOP65.87 billion ($8.22 billion), a 14.3 percent increase against the comparable period last year. The sequential improvement from February to March was also notable, with the market recovering around 9.6 percent month-on-month after the Lunar New Year period eased.
The January figure remains the single strongest month of the quarter in absolute terms, though March came within a narrow margin. Together, the two months bracketed a softer February, a pattern consistent with post-holiday demand normalisation in the territory.
Where March sits in the wider picture
Benchmarked against recent performance, March’s MOP22.61 billion ($2.82 billion) falls below the MOP24.09 billion ($3 billion) recorded in October 2025, which remains one of the stronger monthly readings in recent quarters. That October figure provides a useful ceiling for contextualising current performance: the market is operating at a meaningful level but has not yet matched its recent peaks.
Full-year 2025 GGR reached MOP247.4 billion ($30.86 billion), a figure that sets the baseline against which 2026’s quarterly accumulation will be measured as the year progresses. At MOP65.87 billion ($8.22 billion) for Q1, the market has covered roughly 26.6 percent of last year’s annual total in the opening three months alone.
DICJ and the regulatory framework
The monthly GGR statistics are published by the DICJ, Macau’s major gaming industry regulator, and are part of a mandatory disclosure requirement. The statistics are a measure of revenue generated across all licenced casino properties within Macau and are the ultimate industry standard for the Macau gaming industry.
The monthly GGR statistics are significant to the industry’s regulation for a number of different purposes. For the B2B industry supply chain, the statistics are a forward indicator of operational activity within Macau’s casino floor environment.
Macau operates under a concession-based regulatory model, with the current licensing framework having been renewed in 2022 following a restructuring of the territory’s casino concession system. The six concessionaires operating under that framework collectively contribute to the GGR figures reported by the DICJ each month.
Market context
The 15 percent year-over-year growth recorded in March is the largest among the three Q1 months, although the 24 percent year-over-year growth recorded in January is attributed to a smaller base effect for early 2025. The 4.5 percent year-over-year growth recorded in February is generally understood within the context of year-over-year base effects related to the Lunar New Year calendar change.
The Q1 cumulative growth of 14.3 percent places the market on a firmer footing entering the second quarter, with the full-year 2025 total now serving as the primary performance reference point.
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