An upcoming report by investment firm In Practice sheds light on the proliferation of unlicensed bookmakers utilizing Evolution's games in the Asia-Pacific region. The report delves into the operations of Evolution, a prominent provider of online gaming solutions, amid concerns over illicit activities. Following the announcement, Evolution's share price experienced a significant decline, dropping by 9.9% from $129.78 per share to $116.97.
Key aspects of the investigation are anticipated to include insights from a former executive of Evolution's Ezugi subsidiary, who has provided significant revelations regarding the company's activities in the region. These statements form a crucial component of the research conducted by the firm.
While a February report from the New Jersey Division of Gaming Enforcement found no evidence of Evolution violating US sanctions or benefiting from prohibited gaming operator content under state regulations, allegations persist. Miami-based law firm Levine Kellogg Lehman Schneider + Grossman has issued a press release asserting that Evolution supplied products and services to entities barred under regulatory guidelines. Despite consistent denials from Evolution representatives, the allegations have raised concerns within the industry.
