One Visaya Gaming Corporation (OVG) has lost one of its key licenses less than three months after launching its live casino studio in Cebu City. This marks a major setback for the Philippines-based operator. According to a Bloomberg report, the Philippine Amusement and Gaming Corporation (PAGCOR) revoked OVG’s business-to-consumer (B2C) license. The regulator said the company violated key compliance standards, particularly those related to know-your-customer (KYC) checks. These checks verify player identities and prevent fraud, money laundering, and other illicit activities.
As a result of the suspension, regulators ordered OVG to shut down its Bigwin29 online site by October 8. The company must also stop all gaming activities hosted there. However, the company still retains its business-to-business (B2B) license, allowing it to continue limited operations under regulatory supervision.
The market reacted swiftly to the news. OVG’s shares plunged nearly 6% in early trading, down 4.5% at 11:08 a.m. in Stockholm. The company has yet to release an official statement but reportedly plans to appeal PAGCOR’s decision. OVG emphasized that it maintains internal compliance and due diligence protocols across all operations. The company added that the regulator is still reviewing any outstanding financial obligations tied to the case.
This development comes amid growing scrutiny of the Philippines’ gaming industry. Authorities are tightening oversight on online operators and strengthening anti-money laundering measures.
In related industry updates, Evolution Gaming, another major player in the global iGaming sector, recently expanded its U.S. presence. The company now offers live dealer Blackjack in New Jersey and Pennsylvania and has entered the Rhode Island market through a collaboration with Bally’s. Evolution also signed a multi-year deal with Hasbro to develop online live casino and slot games. It continues its decade-long partnership with PokerStars, reinforcing its dominance in the live gaming market worldwide. This series of events highlights the evolving landscape of online gaming regulation and corporate compliance across global markets.
