Good morning. The deadline is looming for iGaming suppliers in the Philippines. Ahead of a March 31st cutoff, the nation’s gaming operator (PAGCOR) has begun compliance verification for B2B accreditation through operator supply chains, aiming to ensure no one is caught flat-footed. Meanwhile, in Australia, compliance is also at the forefront, with the pubs & clubs sector warning that meeting requirements involves navigating a web of challenges. And in Macau, authorities are also pushing compliance, indicating that 22 investigations into casino operator violations have been launched since its revised gaming law was implemented.
The Philippines gaming regulator has begun actively enforcing its B2B accreditation framework through operator supply chains ahead of the March 31st deadline for iGaming suppliers. A regulatory alert by Arden Consult indicates ‘PAGCOR is moving from policy implementation to active compliance verification’. Operators are now requesting supporting documentation from suppliers and evidence they are actively pursuing approval.
Singapore and the Philippines are aiming to improve ties in trade, investment, AI and clean energy to boost economic activity and provide more opportunities for Filipinos.
Philippine President Ferdinand Marcos Jr. indicted the move in a Saturday statement following a meeting with Singapore’s Deputy Prime Minister and Minister for Trade and Industry Gan Kim Yong at Malacañang last Thursday.
The Philippine leader noted “I had a productive meeting with Singapore Deputy Prime Minister and Minister for Trade and Industry Gan Kim Yong on how the Philippines and Singapore can work more closely”.
The top official also reiterated the importance of strengthening regional partnerships and improving economic integration, particularly within the context of building a more competitive Association of Southeast Asian Nations (ASEAN).
“As ASEAN works toward a more integrated and competitive region, closer cooperation between our countries helps strengthen our economy, create more opportunities for Filipinos, and keep the Philippines ready for the future,” indicated Marcos of the improved ties with Singapore.
Singapore’s casino sector differs greatly from that of the Philippines, being a duopoly comprised of Marina Bay Sands and Resorts World Sentosa, whereas the Philippines boasts dozens of casinos – ranging from multi-billion-dollar IRs to club operations, as well as legal inland online gaming.
NOVOMATIC Italia has announced its return to ENADA with the NOVOLAND experience, a completely updated exhibition offering that embraces the full ecosystem of land-based gaming, digital solutions, and payment services.
ENADA 2026 will run from March 17 to 19, and the Rimini Expo Centre will host the leading event for the gaming and entertainment industry, offering a strategic opportunity to the entire national gaming equipment and systems network, in a landscape increasingly shaped by rapid technological evolution and regulatory change.
NOVOMATIC will present cutting-edge technologies designed to meet the needs of operators and stakeholders, with a strong focus on security, reliability, and innovation, where the centerpiece of its presence will be NOVOLAND at Hall C3, Booth 007, a huge immersive exhibition area created specifically for the event, where visitors and partners will be able to explore the latest developments from the NOVOMATIC universe at first hand.
Highlights include:
• XTENSION LINK Games, marking the Italian debut of the celebrated game family on the NOVOLINE VLT platform. This exclusive launch introduces Italy to a new generation of high-impact titles featuring striking visual content, advanced functionalities, and innovative game mechanics, elements designed to elevate and redefine the entire VLT experience.
• NOVOLINE Easy VLT, the new cashless model for land-based gaming. This state-of-the-art solution introduces electronic payments directly on VLTs, delivering a fully integrated experience with the APay E-Wallet system and connecting the NOVOLINE ecosystem to ADMIRAL Pay, the Group’s payment institute. A true bridge between physical and digital channels, NOVOLINE Easy VLT simplifies the customer journey and expands the range of services available to operators.
• NOVOELSY Game Server, bringing AWP excellence online. A newly enriched portfolio that transports the top-performing AWP titles into the digital space.
• Vabanq N Live, a next-generation solution that elevates the thrill of live casino entertainment, combining immediate engagement with the high security and quality standards guaranteed by NOVOMATIC Italia.
AWP Innovations
The NOVOMATIC Italia exhibition area will also showcase the latest advancements in the AWP segment, including:
• New in-house titles developed specifically for the Italian market, such as the highly anticipated Top 7 Olympia and Top 7 Brasil, along with the Game Club VIP multigame board, which was presented at the latest edition of ICE Barcelona; • These innovations follow the launch of AWPina, NOVOMATIC Italia’s first virtual influencer, who was created to introduce a new communication style for sharing updates, trends, and best practices within the AWP sector.
ADMIRAL Pay and Quigioco: the phygital future
ENADA provides the Group with a key opportunity to showcase the evolution of its digital ecosystem. Quigioco, NOVOMATIC Italia’s online brand, introduces a completely redesigned platform aimed at enhancing competitiveness and brand recognition, featuring an updated, high-performance, and user-friendly interface. The platform operates under the new remote gaming concession, which is valid until 2034, and benefits from a steadily expanding PVR network, supporting a fully integrated, secure, and compliant offering.
Alongside Quigioco, ADMIRAL Pay is strengthening its position as a leading provider of digital gaming services through an ecosystem built around the access point of the APay E-Wallet. This solution seamlessly connects the physical and digital worlds, ensuring traceability, simplicity, and efficiency in cash withdrawals and pagoPA payments and delivering a modern, seamless, and fully integrated gaming experience.
The Novocash VLT, Novocash X6, and APay Station systems, while not directly part of the ADMIRAL Pay offering, have been enhanced with features that enable direct interaction with the APay E-Wallet. These solutions allow players to top up their digital wallet, withdraw cash, and pay for services such as PagoPA, ensuring a smooth and fully integrated experience between PVRs and online gaming accounts.
“ENADA Primavera 2026 is much more than an exhibition”, said Markus Buechele, CEO of NOVOMATIC Italia. “It marks the moment at which we renew our dialogue with stakeholders and look ahead to the profound transformation of our industry with the drive of a company that chooses to engage and invest. NOVOLAND is our window into the future, an ecosystem where omnichannel solutions, technology, and responsibility converge to redefine the experience of a leading product and an entertainment offering that anticipates trends and delivers top-level performance. NOVOLAND is the place where we shape our future together with our customers, our partners, and our people.”
Embattled The Star Entertainment Group has flown out executives from potential investor WhiteHawk Capital to visit the operators’ casinos as it attempts to secure a lifeline investment from the American credit investment manager.
According to sources speaking with the Australian Financial Review, WhiteHawk’s managing director Alex Zuckerman and his team visited The Star’s three properties as they consider signing an agreement to take on the gaming operator’s debt and provide additional liquidity.
The AFR notes that Star chairman Soo Kim is also on the ground amongst the company’s restructuring and debt refinancing attempts.
Currently The Star is seeking to replace a a AU$430 million ($300.7 million) loan with a new agreement with WhiteHawk before the end of March, as current lenders have already waived covenants but are still charging fees of up to 5 percent of the loan value for the waiver.
The AFR sources indicate that some lenders are willing to join the new debt refinancing package but prefer for WhiteHawk to be the sole provider.
The Star in early March indicated that ‘there remains material uncertainty regarding the Group’s ability to continue as a going concern’, announcing an AU$109.7 million ($774 million) loss for 2H25.
The group in October of last year already received the final tranche of the U$300 million ($211.77 million) strategic investment from Bally’s Corporation and Investment Holdings Ltd as part of its takeover and restructuring, with Bally’s now holding 38 percent of The Star’s issued capital and Investment Holdings owning 23 percent.
On February 26th the group indicated that it had executed a term sheet with WhiteHawk Capital Partners to potentially refinance all of the group’s debt and provide ‘incremental liquidity’, however the term sheet is non-binding ‘and may not lead to a definitive credit agreement’. The Star and WhiteHawk ‘are working towards a binding commitment by the end of March 2026, and to consummate the Refinancing Proposal by mid-May 2026’, the group indicated at the time.
A day after the WhiteHawk agreement was announced, The Star received the waiver on its loan covenants but needs a refinancing commitment letter by March 31st to avoid a default on the loan terms.
Celebrating two decades in Macau, Wynn has achieved significant milestones through its innovative approach and exceptional service, establishing itself as a globally acclaimed luxury resort brand.
These achievements are owed to the professional dedication and unremitting efforts of every team member. As the first event in the celebration series for the 20th anniversary of Wynn Macau and the 10th anniversary of Wynn Palace, the Gratitude Festival honored team members—Wynn’s most important people—by recognizing and appreciating their wholehearted devotion.
The Gratitude Festival, held at Wynn Macau Grand Ballroom on March 10 and at Wynn Palace Grand Theater on March 13, attracted enthusiastic participation from over 8,000 team members. Multiple senior executives of the company also attended the event to celebrate together.
Senior executives demonstrate their culinary skills in the Executive Cooking Challenge
They not only demonstrated their culinary skills in the Executive Cooking Challenge, but also continuously served employees a variety of signature dishes from Wynn’s restaurants, including those recognized with international accolades such as Michelin Star and Forbes Five-Star ratings, thus allowing team members to savor the company’s award-winning achievements beyond the workplace.
In addition, the executives also took part in the Wynn Uniform Fashion Show, presenting a professional team image through their work attire and expressing respect and gratitude to all colleagues with sincerity and warmth.
Ms. Linda Chen, President, Vice Chairman, and Executive Director of Wynn Macau, Limited
Ms. Linda Chen, President, Vice Chairman, and Executive Director of Wynn Macau, Limited, noted that “Wynn always places team members at the heart of its vision. On this significant occasion of Wynn’s 20th anniversary celebrations in Macau, we have specially organized the Gratitude Festival to thank every member of our team for their concerted efforts over the years, which have enabled Wynn to continually innovate and become a benchmark of excellence in the industry. With joy and pride, we will move forward hand in hand with all our colleagues and create an even brighter future together.”
The event featured an endless line-up of exciting highlights, including a Team Talent Show, surprise performances of lively Wynn Care Ambassadors and the Gratitude Bear, a 12-hour non stop serving of signature dishes from Wynn’s restaurants, and the heart-warming sharing of e cards expressing gratitude.
In addition, the result of the “Gratitude Bear Naming Contest” held earlier by the company was announced at the event. The Gratitude Bear has been officially named “Lok Lok” (Lok is Cantonese for “happy”). The new name echoes Wynn’s philosophy that “Only people make people happy”, symbolizing the spirit of care and gratitude spread within the team.
Moving forward, Wynn will continue to uphold its people-centered philosophy and strive for perfection with team members, creating unforgettable experiences for guests with an innovative, persistent, and focused approach and writing a brighter chapter together for Macau’s long-term sustainable development.
The Philippine Amusement and Gaming Corporation (PAGCOR) has begun actively enforcing its business-to-business (B2B) accreditation framework through operator supply chains, according to a regulatory alert issued by Arden Consult.
The development marks a shift from policy implementation to compliance verification ahead of the March 31st deadline for iGaming suppliers.
PAGCOR has recently required licensed operators and gaming system administrators (GSAs) to submit detailed lists of their B2B vendors, allowing the regulator to cross-check whether suppliers operating within licensed ecosystems have obtained the required accreditation.
Arden Consult noted that the move effectively places operators at the center of the enforcement process. If unaccredited vendors are identified, operators may be instructed to discontinue their services, potentially including the issuance of cease-and-desist orders.
‘Recent regulatory developments indicate that PAGCOR is moving from policy implementation to active compliance verification,’ the Arden alert stated.
The mechanism effectively acts as a compliance filter within the supply chain, with operators functioning as frontline compliance gatekeepers. Even suppliers that are not directly targeted by regulators could face commercial disruption if operators cannot demonstrate that their vendor ecosystems comply with PAGCOR’s accreditation requirements.
As a result, many operators have begun requesting supporting documentation from partners, including certificates of accreditation, proof of submitted applications, or other evidence showing that suppliers are actively pursuing approval.
Publicly available accreditation lists published by PAGCOR have also begun to function as de facto market signals. As of March 5th, the regulator’s Electronic Gaming Licensing Department listed 37 accredited game content providers, six game aggregators, and several accredited support service providers covering areas such as payment channels, marketing services, customer support, and KYC systems.
Suppliers appearing on these lists may be viewed by operators as commercially viable partners, while vendors without verifiable regulatory status may face heightened compliance scrutiny.
Because the lists are publicly accessible, ‘they have effectively become reference tools for operator compliance teams and procurement functions’, Arden noted.
The approaching deadline has also created practical time pressure for suppliers. Although accreditation applications formally close on March 31st, the consultancy notes that the effective window may be shorter, due to upcoming Holy Week holidays in the Philippines in early April, which could limit regulatory processing and follow-ups during the final stages.
Under PAGCOR’s framework, B2B accreditation generally applies to companies providing gaming content, technology platforms, or operational services to licensed operators. The process may involve corporate filings, probity checks, technical system reviews, and potential inspections prior to final board approval.
For suppliers that have not yet completed accreditation, the consultancy firm says several pathways remain available, including direct accreditation applications, partnerships with accredited GSAs, or distribution arrangements through Philippine-based intermediaries.
However, with enforcement now being driven through operator procurement channels, suppliers risk being excluded from operator ecosystems if they cannot demonstrate clear progress toward regulatory compliance.
Daisy Ho, chairperson of SJM Holdings, has purchased approximately $3 million worth of the company’s bonds through several transactions in early March, according to filings with the Hong Kong Stock Exchange.
Disclosure forms filed on March 11th show that Ho acquired a total of $3 million in principal amount of 6.5 percent senior notes due 2031 issued by SJM International Limited, an associated company of SJM Holdings. The purchases were carried out in three separate transactions between March 6th and March 10th.
The first transaction took place on March 6th, when Ho purchased $1.5 million in notes at an average price of approximately $999.93 per $1,000 unit. This was followed by a purchase of $1 million on March 9th at an average price of about $989.11 per unit, and a further acquisition of $500,000 on March 10th at roughly $995.29 per unit.
Following the transactions, Ho’s total interest in the debentures increased from zero to $3 million in principal amount, held in her capacity as beneficial owner, the filings show.
The bonds are part of a $540 million issuance of 6.5 percent senior unsecured notes due in 2031. According to the filings, the notes are freely transferable but are not convertible into shares of the issuer or any other company.
SJM Holdings is one of the six gaming concessionaires in Macau, operating casinos including the Grand Lisboa and Grand Lisboa Palace. Ho, daughter of the late casino magnate Stanley Ho, serves as chairperson and executive director of the company.
Macau’s economic outlook for the second quarter of 2026 is expected to remain stable, supported by the continued recovery of the gaming sector and strong tourism activity, according to a monthly assessment released by the Macau Economic Association.
The association said Macau’s economic climate indicators for the first two months of the year remained within the ‘stable’ range and are expected to stay broadly steady into the second quarter, despite ongoing external uncertainties.
The outlook is supported by the sustained rebound in the gaming sector. Gross gaming revenue reached MOP22.63 billion ($2.8 billion) in January and MOP20.63 billion ($2.6 billion) in February, a combined year-on-year increase of 13.9 percent. Average daily gaming revenue during the two months ranked as the second- and third-highest monthly averages recorded since the pandemic.
Market expectations are for March’s gross gaming revenue to reach between MOP21 billion ($2.6 billion) and MOP21.5 billion ($2.7 billion).
Tourism-related indicators have also remained strong. Visitor arrivals and hotel occupancy rates have entered what the association described as an ‘overheating’ range, while labor market conditions remain stable, with total employment and unemployment at favorable levels.
At the macro level, liquidity conditions remain ample. Macau’s broad money supply (M2) increased 9.3 percent year-on-year to MOP859.15 billion ($106.8 billion), reaching a new record high. The value of imported goods also entered an ‘overheating’ range for the first time in nearly two years, indicating a pickup in economic activity.
However, the association noted that indicators linked to domestic demand and market confidence remain relatively weak. Housing prices and the share prices of Macau’s six gaming operators continue to hover near recent lows, suggesting a slower recovery in asset markets and consumer sentiment.
The report also warned that external factors, including geopolitical tensions in the Middle East and potential increases in energy prices, could raise living costs and weigh on consumption in the months ahead.
Macau’s gaming regulator has opened 22 administrative infraction cases against casino operators since the city’s revised gaming law came into force in 2022.
The figures areaccording to a written reply from the Gaming Inspection and Coordination Bureau (DICJ) to legislator José Maria Pereira Coutinho. In response to the legislative inquiry, the regulator said the cases were launched to investigate suspected violations by concessionaires under the updated legal framework governing casino gaming operations.
Of the 22 cases, five resulted in penalties, 10 were closed due to insufficient evidence, and seven remain under investigation, the bureau stated. However, the DICJ did not disclose the types of violations involved or the total amount of fines imposed.
The figures were disclosed after Legislator Coutinho asked the government to clarify how the administrative penalty system introduced under the revised gaming law has been implemented and whether enforcement mechanisms are being effectively applied.
Macau amended its gaming legislation in 2022, introducing a clearer administrative sanctions regime for casino concessionaires. The system allows authorities to impose fines of up to MOP5 million ($620,000) and additional penalties such as the temporary closure of gaming areas in cases of serious violations.
According to the DICJ, the regulatory framework requires concessionaires and other industry participants—including management companies, gaming promoters, shareholders, directors, and key employees—to undergo strict suitability checks and comply with reporting obligations when signs of criminal activity or legal violations arise.
‘The law clearly requires industry participants to notify the bureau when there are indications of crimes or conduct that violates gaming-related legislation,’ the regulator said in the reply.
The regulator also emphasized that concessionaires and management companies must undergo continuous audits by independent external entities approved by both the DICJ and the Financial Services Bureau. These auditors are required to report any findings that could seriously harm the interests of concessionaires or the Macau SAR, including potential criminal activities or money laundering.
In addition to external audits, the DICJ said it conducts real-time monitoring of casino operations, gaming activities, and compliance with gaming laws, as well as financial audits and compliance reviews of concessionaires.
Authorities said the regulator will continue working with other government bodies, including the Monetary Authority of Macau and the Financial Intelligence Office, to strengthen oversight and prevent illegal activities linked to the gaming sector.
Evoplay has officially wrapped up its largest-ever network campaign, unveiling the grand prize winner of its Big Adventures promotion during a live draw on March 12th.
Running for nine months from June 2025 to February 2026, the Big Adventures campaign delivered one of the studio’s most ambitious engagement campaigns to date, featuring a €2.5 million total prize pool, more than 115,000 random prizes, and 180 days of player entertainment across participating operator platforms.
Throughout the campaign, players competed across a series of tournament phases while unlocking additional rewards through interactive mechanics including Prize Drops and Wheel of Fortune events.
While thousands of prizes were distributed during the nine-month campaign, the final highlight came with the reveal of the Grand Mega Prize; a VIP trip to the Maldives for two. The luxury experience includes flights, premium accommodation and a fully curated island getaway organised by Evoplay.
The winner was selected via a live random draw among the Top 100 players on the campaign’s final leaderboard, recognising those who performed best across the tournament phases throughout the promotion.
Big Adventures also introduced additional long-term incentives for dedicated players through quarterly giveaways, with top-performing participants rewarded with the latest iPhone Pro Max across the campaign’s phases.
Beyond player engagement, the campaign was designed to deliver strong results for operators through built-in gamification tools, including leaderboard APIs, promotional assets and integrated campaign widgets that enabled seamless promotion across platforms.
Following the success of Big Adventures, Evoplay has already launched another large-scale campaign Four Seasons of Legends, starting with the Spring edition, and offering operators a new opportunity to participate in a network-wide promotion built to drive player engagement and retention.
Diana Larina, Head of Marketing at Evoplay, said: “Big Adventures has been a landmark campaign for Evoplay and our operator partners. Over the past nine months, we’ve seen incredible engagement from players around the world, with thousands of prizes won and strong participation across every phase of the campaign.”
“The live finale was the perfect way to close the campaign and celebrate the community that took part and we’re already looking ahead to the next major campaign, which will give operators even more opportunities to engage their players.”
