Evolution Has Violated No Rules, New Jersey’s Regulator Says

Evolution, а B2B online casino services supplier, announced that its recent hurdles in New Jersey have been resolved. As announced by the company, its investigation by the New Jersey Division of Gaming Enforcement (NJDGE) has been closed.

For reference, the investigation stemmed from a report from November 2021. The report was filed by an anonymous firm, which alleged that Evolution was involved in misconduct. As a result, the NJDGE opened a comprehensive investigation into the allegations, seeking to understand whether they were correct.

However, the NJDGE found no evidence that Evolution had actually participated in any misconduct. According to Evolution’s report:

The NJDGE found no evidence that Evolution sanctioned, promoted, permitted, or otherwise materially benefitted from its content offered by operators in any market that the NJDGE considers a prohibited jurisdiction.

Evolution statement

As a result, the NJDGE confirmed that its investigation into the matter is closed and promised to take no further action.

Evolution Conducted an Internal Review

The B2B supplier added that it also conducted an internal review of its business. The company noted that it failed to detect any due diligence and compliance failings but still decided to enhance these processes.

According to Evolution, its decision to bolster its compliance protocols was welcomed by the NJDGE, which supported the move. Evolution concluded that the enhancements did not relate to any jurisdictional violations.

Evolution to Acquire Livespins

In the meantime, Evolution announced its intention to acquire live casino product Livespins in a $5.4 million deal. Livespins, which allows bettors to wager behind their favorite streamers, content creators and brand ambassadors, is a fast-growing product with a concept that has proven to resonate with bettors.

The acquisition is a part of Evolution’s Product Leap strategy that has seen it break boundaries in its quest to deliver more innovative products to its players. As an innovative product, Livespins perfectly aligns with the supplier’s goals.

For reference, the Evolution family currently includes studios such as NetEnt, Red Tiger, Ezugi, Big Time Gaming, No Limit City and DigiWheel.

Evolution’s acquisition of Livespins is expected to close in Q2 2024.