Philippines: Evolution Partner Loses One Visayas License
The Philippine regulator PAGCOR revoked one of the two licenses held by One Visayas, Evolution’s partner in the Philippines, due to KYC compliance violations.
Which License Was Revoked
The revoked license covered One Visayas’ proprietary iGaming product — Bigwin29. According to PAGCOR’s decision, the platform must cease operations no later than October 8, 2025.
It is important to note that the license in question was for a Gaming System Administrator. The violations were related to KYC (know-your-customer) rules, which ensure player verification to prevent fraud and money laundering. PAGCOR has not disclosed further details about the violations.
Impact on Evolution’s Live Studio
Despite the loss of the Bigwin29 license, One Visayas’ second license remains active. This license is required for the operation of Evolution’s live studio in the country.
Evolution representative Adrian Westman confirmed that B2C and B2B licenses operate independently. Therefore, the live casino streaming operations remain unaffected.
License Details
| License | Purpose | Status |
|---|---|---|
| Bigwin29 (B2C) | One Visayas online casino | Revoked, closure by October 8 |
| Evolution Live Studio (B2B) | Live casino operations | Active, no restrictions |
Market Reaction
Following the news, Evolution shares dropped by more than 4%. The company emphasized that the regulator’s decision directly affects only the One Visayas product and does not impact the partner live casino project.
Right to Appeal
One Visayas retains the right to appeal PAGCOR’s decision through the official channels. So far, the regulator has not specified which KYC violations prompted such a strict measure.
Key Facts
- PAGCOR revoked One Visayas’ license due to KYC violations.
- Closure of the Bigwin29 online casino is scheduled by October 8, 2025.
- The license for Evolution’s live studio remains valid.
- Evolution shares fell more than 4% following the announcement.