Ex-Mossad Operatives Linked to Covert Campaign Against Evolution

A corporate espionage scandal is rocking the online gambling industry after court documents in New Jersey revealed that ex-Mossad intelligence operatives working for Israeli company Black Cube were behind a covert investigation targeting Swedish gaming powerhouse Evolution. London-listed Playtech, a significant rival in the global iGaming sector, reportedly requested and financed the operation.

Playtech Maintains That Its Concerns Were Legitimate

Black Cube, which was established by former members of Israel’s intelligence agencies, reportedly received around £1.8 million ($2.4 million) from Playtech to compile a report accusing Evolution of operating in banned and sanctioned markets, including Iran, Syria, and Hong Kong. The document, submitted to the New Jersey regulators in December 2021, temporarily erased billions from Evolution’s market cap before being dismissed by authorities for lacking factual evidence.

Playtech, founded by Israeli billionaire Teddy Sagi, has denied any wrongdoing. In a press release, the firm stated that its subsidiary, Playtech Software Limited, had engaged the services of an independent business intelligence firm solely to investigate concerns regarding Evolution’s alleged activities in unregulated markets. The company insists the investigation was lawful and justified.

The investigation was undertaken lawfully to better understand and verify concerns of significant regulatory and commercial importance.

Playtech Software Limited statement

Evolution has now included Playtech as a party in its ongoing defamation lawsuit, claiming that the company was the mastermind behind a “smear campaign” intended to harm its reputation and sales. In a recent statement, Evolution noted that the report’s accusations were knowingly false and had caused multi-billion-dollar damage to its operations.

Black Cube Used Underhanded Methods

Evidence from court documents and witness accounts reveals a darker picture of how Black Cube gathered information for its report. Company representatives reportedly contacted current and former Evolution employees, pretending to be prospective investors and business partners. Several of these meetings were secretly recorded, with excerpts sometimes edited and later used in the report submitted to regulators.

Black Cube has a history of controversial assignments, including its work for disgraced Hollywood producer Harvey Weinstein in efforts to suppress media coverage. The company’s involvement in the Evolution case has raised questions about the ethics of employing private intelligence firms in corporate disputes, especially after Evolution employees told lawyers that their words had been “completely misrepresented.”

It is deeply disturbing to learn that one of our competitors has gone to such extraordinary lengths to damage our business and reputation by hiring Black Cube.

Evolution statement

Evolution’s allegations that high-level Playtech executives, including CEO Mor Weizer, directly communicated with Black Cube during the project have further fueled speculation about the company’s involvement in directing the campaign. Evolution noted it would pursue every avenue to hold Playtech and its partners accountable for what it calls a deliberate and coordinated attempt to damage its global standing.