Playtech Revealed as the Client Behind the Controversial Evolution Report
The Background of the Controversial Report
After nearly four years of speculation, a court filing in New Jersey has unveiled Playtech as the company responsible for commissioning a damaging report in 2021 aimed at undermining the reputation of the live casino provider Evolution. This revelation concludes a prolonged legal battle in which Evolution sought to identify the client behind the private intelligence firm Black Cube, which authored and distributed this contentious document.
Evolution Disproves the Report’s Claims
Evolution has stated that senior executives from Playtech, including CEO Mor Weizer, had direct communications with Black Cube during the creation of the report. The document made allegations that Evolution’s products were being operated in blacklisted jurisdictions. These claims caused a sharp decline in Evolution’s market value, wiping out billions and attracting regulatory scrutiny across several regions.
Subsequent investigations by US state regulators and the New Jersey Superior Court established that the report was baseless. Evolution maintains that the accusations were deliberately fabricated and that the information had been twisted through selective editing of interviews to support a false narrative.
Evidence from court documents reveals that Black Cube agents used deceptive tactics, such as posing as potential business partners or investors to interview current and former Evolution employees. Some of these conversations were secretly recorded and then edited in a way that misrepresented or distorted the participants’ statements.
Potential Ramifications for Playtech
Evolution has publicly condemned Playtech’s involvement, describing it as a calculated attempt to damage a competitor’s reputation for strategic gain. It has been reported that Playtech paid over £1.8 million (approximately $2.41 million) to Black Cube for this operation.
This exposure places Playtech at risk of serious legal and financial repercussions. Evolution plans to pursue substantial damages for defamation, trade libel, and business interference. Following this disclosure, Playtech’s shares dropped dramatically by 39%, erasing around £400 million ($536 million) in market value—mirroring the financial impact Evolution initially experienced after Black Cube’s report.
We remain confident in our legal stance and are determined to hold Playtech and their collaborators accountable for the considerable damage they have caused.
Evolution statement
Evolution is prepared to exhaust all legal options to ensure accountability for Playtech, Black Cube, and their affiliates. With identities of all involved parties now public, the lawsuit is poised to advance with Playtech included as a defendant. A critical issue now is whether shareholders were adequately informed about the potential risks involved in such covert operations.
