Some 29 licensed gaming promoters, commonly known as junkets, have been authorized to operate within the Macau SAR in 2026, the latest data released by the Gaming Inspection and Coordination Bureau (DICJ) show.
This figure represents a 21 percent increase from the 24 professionals active at the start of the previous year, signaling a modest but steady recovery in the sector.
However, the industry remains significantly leaner than in previous decades, currently utilizing only 58 percent of the maximum cap of 50 licenses established by the Secretary for Economy and Finance.
Sands China and SJM Resorts lead the market, with each authorized to collaborate with up to 12 junkets.
They are followed by MGM China and Melco Resorts, which host eight promoters each, while Galaxy Casino and Wynn Resorts maintain the smallest junket footprints with only five partners apiece.
This structure is underpinned by a strict regulatory requirement that mandates each promoter sign an exclusive contract with a single concessionaire, a move designed to increase transparency and accountability.
Beyond the number of licenses, the operational scope of these entities has been fundamentally reshaped by the 2023 Gaming Law.
The era of independent VIP room management and revenue-sharing agreements has ended; junkets are now strictly prohibited from sharing in casino profits or operating exclusive areas through private contracts.
Furthermore, their financial influence has been curtailed by a ban on issuing credit directly to players—a power that now resides exclusively with the gaming concessionaires. This shift is reflected in the staffing levels as well, with only 12 licensed junket collaborators currently active in the territory, a mere fraction of the 250 permitted by the DICJ.
Financially, the VIP segment is showing surprising resilience despite these restrictive hurdles. In 2025, VIP baccarat revenues surged by nearly 25 percent year-on-year, reaching approximately MOP67.99 billion ($8.46 billion).
This growth outpaced the general casino average, increasing the VIP sector’s weight in the total revenue structure to 27.48 percent.
While this remains well below the 46.24 percent share seen in 2019, the rate of recovery is accelerating. Overall gaming revenue for 2025 totaled MOP247.40 billion ($30.78 billion), approximately 84.6 percent of pre-pandemic levels.
Looking forward to 2026, the government’s budget proposal anticipates continued growth, forecasting total gross gaming revenues to reach MOP236 billion ($29.4 billion) as the tourism sector continues its upward trajectory.
