Evolution shares sink as Philippine partner loses casino license JPMorgan downgrade compounds investor concerns over growth outlook B2B license intact, but compliance risks spook market Evolution AB’s [EVO] stock fell 6% on the Nasdaq Stockholm exchange on Thursday after the Philippine gambling regulator revoked the license of its Asian partner, One Visaya Gaming Corp (OVGC). The stock remained under pressure Friday following a downgrade from J.P. Morgan, a double blow for the live-dealer specialist. Evolution AB’s shares tumbled after Philippine regulator PAGCOR revoked a partner’s license, with a JPMorgan downgrade adding further pressure. (Image: Casino.org) The Swedish company partnered with Cebu City, Philippines-based OVGC in June to launch a new live-dealer studio in Asia. At the time, it described the tie-up as a “major milestone in our long-term commitment to the region.” OVGC also operates an online casino, BigWin29, that carries Evolution’s games. KYC Failure Gaming regulator PAGCOR told Bloomberg Thursday it had revoked OVGC’s B2C online casino license for…Read MoreCategory: Commercial GamingSource: Casino.org