Evolution has reached a £4.75 million agreement with the UK Gambling Commission (UKGC) to conclude the review process of its licence, which began in December 2024.
The agreement puts an end to an investigation that began after the regulatory body found Evolution games on unauthorised betting platforms.
Evolution, which is listed on the Stockholm Stock Exchange, has ended its business relationship with two operators, under the terms of the resolution.
The news brings relief for the shares of the company led by Martin Carlesund. The accusations of illicit activity had become a serious problem that was affecting the business.
Carlesund stated that “Evolution always wants to do the right thing” and described it as “unacceptable” that six unlicensed betting sites offered its content in the UK.
“We do not want traffic from unauthorised operators and we will act swiftly to resolve any such situation. We welcome the conclusion of the review process and remain focused on supplying our world-leading games to licensed operators in the UK,” he stated.
In previous statements, the Gambling Commission’s chief executive, Andrew Rhodes, had already warned companies in the sector about the need to strengthen controls to protect consumers from the risks associated with illegal online gambling.
Not a widespread problem
According to Evolution, these are isolated cases in which operators actively circumvented restrictions. The investigation has found no evidence indicating that there is a widespread problem.
The company has cooperated with the authorities and has ended its business relationship with the companies in question. It has also pledged to continue working to adopt technical, legal and commercial measures that help identify, address and prevent unauthorised access to its content.
“Evolution remains committed to continuing to invest in strengthening regulatory compliance standards and to continuing to work constructively with regulators to address these challenges,” the company stated in a press release.
Evolution’s shares rose 2% on Wednesday (15 July) following the announcement.