Evolution stock dips after Philippines partner One Visaya Gaming hit by licence revocation
Table of contents
- One Visaya Gaming Corp. has had its gaming system administrator licence revoked by Philippine regulators for violating know-your-customer rules
- The licence withdrawal affects the partner’s own casino site Bigwin29, which must close by 8 October 2025
- Evolution’s live studio operations in the Philippines remain unaffected as One Visaya retains its separate business-to-business licence
Evolution AB’s business partner in the Philippines has been stripped of one of its gambling licences just three months after the companies launched their first live casino studio collaboration in Asia, according to Bloomberg.
The Philippine Amusement and Gaming Corp (PAGCOR) withdrew One Visaya Gaming Corp’s licence as a gaming system administrator due to violations of know-your-customer regulations, according to regulatory officials. The revoked licence pertained to One Visaya’s own casino site, Bigwin29, which must now shut down operations by 8 October.
Studio operations continue
The licence withdrawal does not affect Evolution’s live studio operations in the Philippines, as One Visaya retains its separate business-to-business licence required to operate the Swedish company’s live casino studio.
Evolution spokesperson Adrian Westman confirmed the independence of the licences, telling Bloomberg that “the B2C and B2B licences are completely independent of each other and there are no issues with the studio”.
Evolution announced its partnership with One Visaya in June 2025 to establish the company’s first live studio in Asia. The studio represents Evolution’s expansion into the Asian market, where the company has faced various regulatory and cybersecurity challenges.
Market response
Evolution shares dropped more than 4% following the announcement of the licence revocation. The Swedish live casino supplier has experienced share price volatility this year due to ongoing regulatory scrutiny in multiple jurisdictions.
The company currently faces investigation by the UK Gambling Commission over suspected black-market activity after its games were found accessible through unlicensed operators targeting British players. Evolution has cooperated with the UK regulator and implemented requested compliance measures, including IP-blocking of unauthorised sites.
Appeal process available
One Visaya Gaming Corp. maintains the right to appeal PAGCOR’s decision regarding the licence revocation. The know-your-customer violations that led to the licence withdrawal relate to verification checks used by casinos to confirm player identities and prevent fraud and money laundering activities.
The licence loss comes during a period of increased regulatory scrutiny across the global igaming industry, with suppliers facing greater responsibility for monitoring their business partners’ compliance with local regulations.
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