PAGCOR Revokes License from Evolution Gaming Partner in Philippines
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Key Takeaways:
- Philippine regulator PAGCOR terminates license of an Evolution Gaming operator partner, citing compliance failures amid rising cyber threats.
- Move aligns with Asia-Pacific's 27% surge in live casino adoption, emphasizing vetted partnerships for market integrity.
- Decision prompts potential studio expansions by providers, boosting legitimate gross gaming revenue by up to 15% through 2026.
Evolution Gaming's stock dipped 3.2% on November 10, 2025, following the Philippine Amusement and Gaming Corporation's (PAGCOR) revocation of an operator's license for non-compliance with anti-money laundering and cybersecurity protocols. The affected entity, a Manila-based online casino aggregator partnering with Evolution to stream live dealer titles like Crazy Time and Lightning Roulette, faced immediate suspension of operations. PAGCOR's action, announced via official bulletin, stems from repeated audit discrepancies uncovered during a routine inspection in late October, including inadequate transaction monitoring and failure to report suspicious activities exceeding PHP 500,000 thresholds.
The revocation process, initiated under Republic Act No. 10175, involved a 30-day remediation period that the operator failed to meet, leading to asset freezes and a ban on new player onboarding. Evolution, while not directly implicated, confirmed in a regulatory filing that it is reviewing contingency plans, including direct integrations with PAGCOR-approved platforms. This incident marks the second such enforcement in Southeast Asia this quarter, following a similar probe in Indonesia's nascent regulated market. Industry analysts note that the aggregator handled over 150,000 monthly active users, primarily for live casino games like baccarat and blackjack streams, contributing to the region's 28% engagement uplift from April to September 2025.
This development underscores PAGCOR's aggressive stance on operator accountability, mirroring European bodies like the Malta Gaming Authority in prioritizing player fund segregation and real-time data reporting. For the live casino sector, it accelerates a shift toward in-house studio builds by tier-one software providers, reducing reliance on third-party aggregators vulnerable to regulatory volatility. In Asia, where mobile penetration tops 80% in markets like the Philippines and Indonesia, such measures enhance trust, potentially elevating retention rates by 20% as players favor compliant platforms. Technologically, it spurs investments in AI-driven fraud detection, with Evolution allocating €50 million to bolster Asian infrastructure.
On the partnership front, the revocation opens doors for direct deals between studios and licensed operators, fostering innovations like hybrid baccarat formats tailored to local preferences. Economically, it could channel more revenue into regulated channels, projecting a 15% GGR increase by 2026 while curbing offshore operators' 30% market share. For European providers eyeing Asia expansion, this reinforces the need for localized compliance teams, harmonizing with EU's October 18 real-time data protocols to streamline cross-border audits. Ultimately, PAGCOR's move fortifies the $150 billion global live casino ecosystem, ensuring sustainable growth amid cyber risks and regulatory harmonization across Europe and Asia.
