Evolution AB’s business partner in the Philippines has been stripped of one of its gambling licenses less than three months after the companies teamed up to launch a live casino studio. Shares fell nearly 6%.
The Swedish company, which specializes in livestreamed online gambling with real dealers, announced in June that it had partnered with One Visaya Gaming Corp. in the Philippines to launch Evolution’s first live studio in Asia. One Visaya also runs its own casino site that licenses Evolution’s games.