PAGCOR is stepping up its oversight of iGaming operators, with a new B2B accreditation system

Good Morning. PAGCOR continues to up its game, introducing a new accreditation system to regulate B2B service providers. The move means companies now need to be directly accredited by the regulator, which could have “wide-ranging implications”. Looking to Japan, MGM Resorts is further increasing its stake in the Osaka IR, now reaching nearly $3 billion, as it maintains its opening date target. And in Macau, analysts are slightly revising their May GGR forecasts, as April came in slightly better than expected. Now all eyes will be on Golden Week.

In observance of the Buddha’s Birthday holiday on May 5th, AGB will resume normal publishing on Tuesday, May 6th.

What you need to know

PAGCOR broadens iGaming oversight via new accreditation for support services, enhancing regulation and standardization.
MGM Resorts raises equity in Osaka IR project to $3B, maintaining 2030 opening target and high return expectations.
Analysts adjust projections for Macau’s May GGR and FY25, following April results that came in slightly above expectations.

On the radar

Macau April GGR totals $2.35B, down 4.1% month-on-month.
PAGCOR posts $502M in 1Q25 revenues, net income up 23%.
MGM China reports 3% revenue decline in first quarter.
POSC backtracks on plans for e-casino industry entrance.
UAE’s GCGRA signs MOU with New Jersey gaming enforcement division.

AGB Intelligence

PHILIPPINES

PAGCOR’s iGaming oversight to increase

The Philippines is seeing yet another regulatory transformation, as PAGCOR moves to further increase its oversight on iGaming to accredit an array of B2B service providers. A top legal expert notes that this is a “significant shift”, with companies now requiring a direct accreditation from the gaming regulator. The move is expected to have “wide-ranging implications” for the sector.