UKGC Launches Review Of Evolution Gaming For Potential Misuse Of Games

The UK Gambling Commission (UKGC) has launched a formal investigation into Evolution Gaming, raising concerns over the accessibility of its games on unlicensed platforms operating in the UK. The review could have significant implications for Evolution’s license to operate in the British market.

The inquiry was initiated after the UKGC found that Evolution’s games were available through unlicensed operators, potentially exposing players to risks such as:

• Unprotected transactions

• Lack of accountability

• Absence of regulatory safeguards

Following the discovery, Evolution removed its content from the unlicensed sites and assured regulators of its full cooperation.

Evolution’s response
Martin Carlesund, CEO of Evolution Gaming, emphasized the company’s dedication to compliance:

• Evolution is supporting the licensed UK market

• Technical measures like IP blocking are being used

• The company is cooperating fully with the UKGC

Potential outcomes of the investigation include a wide range of regulatory actions:

• No further action if compliance is deemed sufficient

• Financial penalties or additional licensing conditions

• In severe cases, suspension or revocation of Evolution’s license

The situation has already impacted Evolution financially. After the announcement, the company’s share price fell by 11.8%, trading at SEK 806.80 (US$73.11). This reflects investor concern over potential regulatory consequences.

Despite the setback, Evolution continues to expand:

• Reported Q3 revenue of €579 million (US$602.8 million)

• Extended its partnership with FanDuel

• Announced plans to acquire Galaxy Gaming for $85 million

The UKGC’s investigation aligns with its mission to maintain strict oversight of the gambling industry. Recently, the regulator appointed Charles Counsell as interim chair, signaling its continued focus on compliance and player protection.

While the UKGC has not shared further details, it confirmed it is closely monitoring Evolution’s implementation of the required measures.