Playtech Shares Slump as Company Stands by Evolution Report

Playtech has reiterated its confidence in the findings of the damning Evolution report from 2021, despite taking a hit to its share price and risking serious consequences.

Evolution Uncovered the Identity of the Report’s Commissioner

Live casino giant Evolution just made a breakthrough in its legal fight against the author of a damning report that alleged the company had been operating in prohibited markets. Several months after discovering that Black Cube was the organization behind the report, Evolution has now unmasked fellow provider Playtech as its commissioner.

Evolution has vowed to pursue every available avenue to hold Playtech, Black Cube, and their affiliates accountable, asserting that the damning report was a deliberate attempt to provide

As a result, Playtech’s shares plummeted from GBX 339 to their current price (as of the time of this writing) of GBX 264.

Playtech Says Its Report Sought to Investigate “Credible Concerns”  

Despite experiencing an immediate hit to its share price, Playtech has reiterated the importance of its report, dismissing Evolution’s claims that its subsidiary, Playtech Software Limited, sought to purposefully undermine its competitor. Instead, the company insisted that its decision to commission an independent firm to compile the report was based on “credible and repeated concerns raised by operators, suppliers, and regulators” about Evolution’s alleged activities in prohibited markets.

A Playtech spokesperson insisted that the investigation was undertaken lawfully and that the eventual report included evidence that Evolution’s business practices undermined the sector’s credibility.

As a result, the spokesperson emphasized that Playtech stands by its decision to commission the report. While court investigations have so far dismissed the findings, Playtech welcomed the examination and expressed confidence in the credibility of some of its claims.

Black Cube has also stood by its findings.