License Revoked, Studio Operations Continue
The Philippine Amusement and Gaming Corporation (PAGCOR) revoked the gaming system administrator license of One Visaya Gaming Corp. on August 28, citing violations of know-your-customer (KYC) regulations. These rules are crucial for detecting and preventing financial crimes.
Following the revocation, all content providers, including Evolution, were instructed to stop supplying games to BigWin29, One Visaya’s online casino platform. However, Evolution’s separate live casino studio license remains valid. Both companies have emphasized that the two licenses operate independently, and therefore, the Manila live studio continues unaffected.
This enforcement move demonstrates how Asian regulators are intensifying compliance scrutiny across the growing online gaming sector.
Market Impact and Compliance Concerns
The market reacted immediately to the announcement. Evolution’s stock fell nearly 5.9% before recovering slightly to close at around a 4.5% decline on the Stockholm exchange. The event comes at a delicate time, as Evolution has identified Asia—particularly the Philippines—as a key growth region for its live casino business.
Although the revoked license directly targets One Visaya, the decision has prompted broader concerns about regulatory exposure. In recent months, leaked recordings suggested that Evolution’s content might have reached restricted markets, sparking renewed compliance discussions.
A Wake-Up Call for Stronger Oversight
Meanwhile, Evolution continues to face investigations related to U.S. sweepstakes operations, further highlighting its complex global regulatory footprint. Industry analysts believe the company must reinforce compliance systems and transparency to sustain investor confidence and protect its long-term expansion strategy.
Ultimately, PAGCOR’s action serves as a reminder that compliance diligence is now a competitive necessity, not merely a regulatory requirement, for companies operating across multiple jurisdictions.
