07 Oct, 2025
Philippines’ One Visaya Gaming Corporation (OVG) has had its business-to-consumer (B2C) licence revoked by the Philippine Amusement and Gaming Corporation (PAGCOR), less than three months after the company launched its live casino studio in Cebu City.
The revocation, which stems from violations of know-your-customer (KYC) rules, forces OVG to close its Bigwin29 casino site by 8 October 2025 and discontinue all games provided through the platform. This move also means a major setback for Evolution, the Swedish gaming company that partnered with OVG earlier this year to launch its first live casino studio in Asia. The studio, operated under OVG’s business-to-business (B2B) licence, allows Evolution to stream live casino games, such as blackjack and baccarat, to operators worldwide.
While the B2B licence remains valid, the loss of the B2C licence restricts the distribution of games through OVG’s own casino platform. PAGCOR cited violations of the regulator’s rules on KYC checks, which are designed to verify player identities and prevent fraud and money laundering.
The regulator also noted that it has yet to determine whether any outstanding financial obligations remain for OVG. Shares in OVG fell nearly six percent following the announcement, reflecting market concern over the sudden regulatory action. At 11.08 A.M. in Stockholm, OVG shares were down 4.5 percent.
Despite the disruption, Evolution emphasised that the live studio itself remains unaffected. “The B2C and B2B licences are fully independent from each other, and there is no issue with the studio,” said Evolution spokesperson Adrian Westman.
The company believed that its deal with OVG represents a major step in delivering ‘localised, fully compliant entertainment tailored to regional markets.’ Evolution said that it has extensive policies, controls, and procedures in place to ensure proper due diligence of all contractual partners.
The revocation also comes amid growing scrutiny of Evolution’s operations in international markets. The company was under regulatory pressure in August 2025 after court documents showed that executives had allegedly talked about cases in which Evolution’s games were accessed in nations like China, Iran, and Sudan, where access was forbidden. Evolution maintains that it has no interest in offering services in markets that have been sanctioned and that it depends on cutting-edge systems to block unauthorised access.
OVG has the right to challenge PAGCOR’s ruling, but the company has not made any public remarks regarding the licence revocation. In its statement, the regulator made it clear that Evolution and other game providers are no longer able to supply games to the Bigwin29 platform. Additionally, the company keeps its B2B licence, which permits the Cebu City live studio to keep streaming to outside operators.
The partnership with OVG marked Evolution’s first live casino studio in Asia, forming part of its broader expansion strategy in regional markets. While the B2B operations can continue, the loss of the B2C licence is a sharp reminder of the regulatory risks involved in international gaming partnerships. Market analysts have suggested that the setback may slow Evolution’s efforts to establish a stronger presence in the Asia-Pacific online gambling sector.
With Evolution financial plans in limbo, industry observers say the company’s focus on compliance and risk management will be critical in maintaining trust with local authorities and global partners.
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