TLDR Mass market gaming made up 73% of Macau’s gross gaming revenue in 2025, according to the IMF. Macau casino GGR rose 9.1% in 2025, reaching about 85% of 2019 levels. GGR grew 6.9% in the first half of 2026, led by mass market players. The IMF forecasts real GDP growth of 3.3% in 2026 and 3.1% in 2027. Macau needs more investment to reach its goal of 60% non-gaming GDP by 2030.
The International Monetary Fund (IMF) expects mass market gaming to remain the main source of casino revenue growth in Macau. The view comes from its latest consultation report on the city, published on Tuesday.
The report said Macau’s gaming industry changed during the pandemic. Mass market customers are now the largest contributor to revenue, while the VIP segment plays a smaller part.
According to the IMF, mass market gaming accounted for 73% of gross gaming revenue (GGR) at Macau casinos in 2025. Casino operators have adjusted to the post-pandemic period as junket operators came under new regulation.
Macau’s gross gaming revenue (GGR) slipped 1.2 per cent year-on-year to MOP 18.06 billion (US$2.25 billion) in September, marking the lowest monthly tally in two years. Despite the monthly contraction, cumulative GGR for the first nine months of the year reached MOP 187.1… pic.twitter.com/s6fFtvhd0U
— Macau Business (@Macau_Business) October 1, 2026
Mass Market Leads Macau Gaming Recovery
Macau casino GGR rose 9.1% year-on-year in 2025. That brought revenue to around 85% of the level seen in 2019, before the pandemic.
The recovery continued into 2026. Casino GGR increased 6.9% in the first half of the year, with growth driven by the mass market segment.
The IMF described the shift as structural. It said mass market customers are taking a larger role in supporting revenue.