Playtech and Black Cube Confirm Legitimacy of Investigation into Evolution
The provider Playtech and intelligence agency Black Cube have issued statements regarding allegations from Evolution, confirming that the investigation was lawful and justified.
Allegations and Company Responses
Playtech stated that it fully supports the decision to engage private intelligence agency Black Cube to prepare a report on Evolution’s activities in prohibited markets. After Evolution revealed that Playtech had commissioned the investigation, Playtech’s shares plummeted to £2.22 before recovering slightly to £2.56.
In an official comment, Playtech representatives said that claims of a “defamation campaign” against Evolution were false and served only to distract from serious questions concerning Evolution’s conduct in sanctioned jurisdictions.
Key Findings of the Report
- The report was prepared independently by Black Cube
- The investigation focused on Evolution’s game supply to markets where gambling is banned
- Collected materials include evidence of cooperation with unlicensed operators
- According to Playtech, Evolution’s actions damage the reputation of the gaming industry and reduce government tax revenues
Playtech’s Position
A company spokesperson stated that Playtech Software Limited hired the agency to investigate “substantiated and repeated complaints” from operators and regulators. The investigation was conducted legally to address significant commercial and regulatory concerns.
Playtech emphasized that it welcomes judicial review of the report and remains confident in its accuracy. However, analysts noted that the hit to the company’s share price was severe, with some experts calling the decision to pursue the investigation “a misstep” that increased both reputational and financial risks.
Analyst Commentary
Industry research group Regulus Partners noted that the situation negatively impacted the entire gambling sector. “An industry built on trust cannot afford such actions,” they said.
| Aspect | Analyst Comment |
|---|---|
| Financial Impact | Share value dropped by 34% |
| Reputational Risk | Increased distrust toward the industry |
| Outlook | Inevitable legal proceedings ahead |
Black Cube’s Response
Black Cube confirmed that all information presented in the report is based on verified sources and documentary evidence. According to the agency, the investigation includes “many hours of video and audio materials” showing that Evolution knowingly worked with operators in black markets both before and after the report’s release.
Black Cube stated that it stands by its findings and is prepared to defend them in court, confident that the truth will prevail.
Evolution’s Position and Regulator Reactions
Despite the serious allegations, Evolution was cleared by two state regulators, including the New Jersey DGE. The court also found that parts of the report contained inaccuracies. Nevertheless, Playtech maintains that the investigation was well-founded.
Throughout the dispute, both companies issued statements defending their positions.
Official Statements
iGN editorial provides translated excerpts from official company statements:
Official Statement from “Playtech PLC”:
“The claims that our subsidiary, ‘Playtech Software Limited,’ organized a defamation campaign are completely false and intended to distract from serious questions surrounding ‘Evolution’s’ business practices. ‘Playtech Software Limited’ engaged an independent agency to investigate substantiated and repeated complaints from operators, suppliers, and regulators regarding ‘Evolution’s’ activities in prohibited jurisdictions and sanctioned countries, as well as its cooperation with unlicensed operators in regulated markets. The investigation was conducted lawfully to uncover issues of regulatory and commercial significance. The published report clearly demonstrates that ‘Evolution’s’ practices undermine legitimate gaming companies, erode trust across the industry, and negatively affect government tax revenues. ‘Playtech’ stands by its decision to commission the investigation. ‘Evolution’ continues to evade legitimate scrutiny instead of addressing longstanding concerns about its dealings with illegal market operators and unlicensed partners in regulated territories. ‘Playtech’ welcomes the judicial review of the report and its findings, confident that the process will confirm both the legitimacy of the investigation and the importance of the issues raised.”
Statement from “Black Cube”:
“‘Black Cube’ proudly presented its findings in coordination with the client. The case is now entering a decisive phase, where years of work will be examined in court. The gathered evidence—including many hours of video and audio recordings—clearly shows that ‘Evolution’ knowingly and deliberately worked with operators in black markets both before and after the report’s publication, thereby misleading the public, the courts, and regulators. The truth will now come to light.”