Evolution Faces Regulatory Setback in the Philippines as Partner’s License Revoked

Evolution has encountered a fresh regulatory challenge in Asia after its local partner in the Philippines had its B2C license revoked by the Philippine Amusement and Gaming Corporation (PAGCOR) over alleged know-your-customer (KYC) violations. While the decision has left Evolution’s Manila studio operations untouched, the development is seen as a reminder of intensifying regulatory scrutiny in key Asian markets.

On August 28, PAGCOR officially cancelled the gaming system administrator license of One Visaya Gaming Corp., which operated the online casino platform BigWin29. According to the regulator, the revocation is tied to breaches of KYC requirements, procedures that serve as a frontline defense against financial crime. The cancellation has immediate consequences for all content providers tied to the platform. As part of the ruling, “all content providers, including Evolution, must cease supplying games to BigWin29.”

Despite the ruling, Evolution and One Visaya are drawing a firm line between the online platform license and the studio operations in Manila. Both parties emphasize that the company’s live casino studio license remains unaffected and fully valid. “Evolution and One Visaya maintain the two licenses are fully independent, and they insist that the Manila studio operations are not impacted by the regulatory decision,” they said. The distinction is a critical one for Evolution, as the Philippines has long been regarded as a cornerstone in its push to expand further across Asia.

The market, however, responded swiftly to the news. Evolution’s share price dropped nearly 5.9% before recovering slightly, trading around a 4.5% decline on the Stockholm market by the end of the session. The investor reaction underscores the sensitivity of the timing, as the supplier has consistently positioned Asia—and in particular its Philippine live studio—as a vital growth driver for the years ahead.

The incident also sharpens the spotlight on broader compliance risks facing the company. In recent years, Evolution has faced criticism and regulatory queries after leaked recordings appeared to show its products being accessible in prohibited jurisdictions, raising reputational concerns. At the same time, the group has also been navigating additional regulatory pressures tied to its involvement with U.S. sweepstakes operations, highlighting the complexities of its global exposure.

For analysts, the PAGCOR decision adds another layer of urgency for Evolution. Many suggest that the company will be required to demonstrate stronger compliance measures if it is to safeguard trust and sustain expansion in both established and emerging markets. With regulators in Asia showing little appetite for leniency, the latest setback may serve as a warning that Evolution’s long-term ambitions in the region will depend as much on compliance as on growth strategy.

By fLEXI tEAM