One of the world’s leading providers of live casino games, Evolution AB, has revealed shocking news about a false and damaging report from 2021, announcing that the company...
Playtech counters Evolution’s accusations, defending report findings
Playtech has defended its choice to hire private intelligence firm Black Cube to investigate Evolution, after the live casino provider revealed that Playtech was the anonymous client behind the controversial 2021 report.
The disclosure sent Playtech shares tumbling in early trading: down about 34% at one point, hitting £2.22 before recovering to £2.56 by the time of publication.
Playtech pushed back hard on accusations that the company or its subsidiary, Playtech Software Limited (PTS), carried out a smear campaign.
In its respond to Evolution’s statement, Playtech PLC refuted:
“PTS commissioned an independent business intelligence firm to investigate credible and repeated concerns raised by operators, suppliers and regulators about Evolution’s activities in prohibited and sanctioned markets, and its supply to unlicensed operators in regulated markets. The investigation was undertaken lawfully to better understand and verify concerns of significant regulatory and commercial importance.
The report published, as a result of the investigation, clearly evidences that Evolution’s business practices undermine lawful and compliant gambling operations. Such conduct damages trust in the credibility of the entire industry and also ultimately impacts government tax collection.”
And yet, U.S. state regulators, including New Jersey’s Division of Gaming Enforcement, later cleared Evolution of wrongdoing and found the report to be inaccurate. Courts so far have also questioned the report’s veracity.
Despite that, Playtech supports the decision to commission the work, stating further:
“Evolution continues to seek to avoid legitimate scrutiny rather than address longstanding questions about its conduct, including its decision to supply operators in illegal markets and to support unlicensed operators in regulated markets.”
Black Cube, the intelligence firm behind the report, has defended its findings and signaled readiness to fight the matter in court, adding that all collected evidence would soon be reviewed through proper legal channels, including hours of video and audio recordings are said to back up Black Cube’s conclusions.
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