Key Moments:
- Playtech strongly refuted Evolution AB’s accusation of a “smear campaign,” labeling it “wholly untrue.”
- Playtech revealed that an independent investigation was lawfully commissioned to examine Evolution’s alleged operations in prohibited and unregulated markets.
- The company affirmed its readiness for judicial review, placing confidence in the integrity and findings of its commissioned report.
Background to the Dispute
Playtech plc (LSE: PTEC) has formally countered recent allegations from Evolution AB, which asserted that Playtech had orchestrated a “smear campaign.” Playtech categorically denied the allegations and said they distract from more serious questions about Evolution’s business conduct.
Details of the Investigation
Playtech said its subsidiary, Playtech Software Limited (PTS), hired an independent business intelligence firm to probe ongoing concerns about Evolution’s role in restricted markets and ties to unlicensed operators. Playtech emphasized that it conducted the investigation within legal boundaries to better understand and validate key regulatory and commercial concerns.
Playtech’s Position
Playtech said the investigation showed that Evolution’s practices hurt compliant gambling firms, erode trust in the industry, and reduce government tax income. Playtech maintained that commissioning the report was justified. The company added that it welcomes judicial review and remains confident the process will confirm the report’s integrity and importance.
Official Statement
The following is the complete statement issued by Playtech:
Playtech plc (LSE: PTEC) (“Playtech” or the “Company”) notes the statement made today by Evolution AB (“Evolution”). The suggestion that its subsidiary, Playtech Software Limited (“PTS”), engaged in a smear campaign is wholly untrue and is designed to distract from serious questions about Evolution’s business practices.
PTS commissioned an independent business intelligence firm to investigate credible and repeated concerns raised by operators, suppliers and regulators about Evolution’s activities in prohibited and sanctioned markets, and its supply to unlicensed operators in regulated markets. The investigation was undertaken lawfully to better understand and verify concerns of significant regulatory and commercial importance.
The report published, as a result of the investigation, clearly evidences that Evolution’s business practices undermine lawful and compliant gambling operations. Such conduct damages trust in the credibility of the entire industry and also ultimately impacts government tax collection.
Playtech stands by the decision to commission the report. Evolution continues to seek to avoid legitimate scrutiny rather than address longstanding questions about its conduct, including its decision to supply operators in illegal markets and to support unlicensed operators in regulated markets.
Playtech welcomes court examination of the report and its findings. Playtech is confident that these proceedings will confirm the credibility and legitimacy of the investigation and the importance of the issues it seeks to address.
- Author
Daniel Williams
