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Playtech Defends Probe Amid Evolution’s “Smear Campaign” Allegations

Posted on October 27, 2025 | 9:19 am
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In a sharply escalating dispute between major online gambling suppliers, Evolution has accused Playtech of orchestrating a “smear campaign” through private-investigations firm Black Cube. Playtech, for its part, insists its engagement of Black Cube was a legitimate attempt to investigate regulatory and commercial concerns related to Evolution’s operations.

Evolution says that in December 2020, Playtech began collaborating with Black Cube to generate a report placing serious, and in its view false, allegations against Evolution’s business operations. According to Evolution, that dossier was intended from the start to “destroy its reputation” and featured input from senior Playtech executives — including Playtech CEO Mor Weizer.

“It is deeply disturbing to learn that one of our competitors has gone to such extraordinary lengths to damage our business and reputation by hiring Black Cube,” the company said in its official statement.

Evolution further contends that Black Cube’s work included secret recordings of up to five former employees and board members, use of false personas and disguises — and that regulators in both New Jersey and Pennsylvania later found “no evidence that Evolution sanctioned, promoted, permitted, or otherwise materially benefitted from its content offered by operators in any market that the NJDGE considers a prohibited jurisdiction.”

In its statement, Evolution added:

“The report, which was furnished to regulators by a law firm representing Black Cube and purposely leaked to the media, was determined by two state regulators in the US to be lacking in evidentiary support. Later, the New Jersey Superior Court also determined that the defamatory report was untruthful and lacked veracity. Notwithstanding those findings, dissemination of the report has resulted in multi‐billion‐dollar damage to our company.”

The company has already sued law firm Calcagni & Kanefsky LLP (C&K) and others — and now says it will amend the complaint to add Playtech as a defendant. The case is expected to continue into 2026.

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Playtech’s response: investigation, not a smear

In a rebuttal issued soon after Evolution’s claims, Playtech stated that allegations of a smear campaign are “wholly untrue” and “designed to distract from serious questions about Evolution’s business practices.” According to Playtech, its subsidiary—Playtech Software—commissioned the independent investigator to probe “credible and repeated concerns” from operators, suppliers and regulators about Evolution’s activity in prohibited and sanctioned markets, and about its supply of games to unlicensed operators in regulated jurisdictions.

The company added that the investigation was carried out lawfully and with the purpose of verifying “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,” said Playtech.

“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.”

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Investigative and regulatory background

The saga traces back to 2021 when a 2021 “Calcagni Report” was filed by C&K with the New Jersey Division of Gaming Enforcement (NJDGE) and the Pennsylvania Gaming Control Board. The document asserted that Evolution’s live-casino games had been accessed in countries under U.S. sanctions and in unlicensed markets—or claimed to have been.

However, the NJDGE later determined that it found no evidence of Evolution “sanctioning, promoting, permitting, or otherwise materially benefiting” from its content via operators in jurisdictions the agency considers prohibited.

Legal filings reveal that Black Cube, an Israeli-founded intelligence agency, compiled the report. In letters submitted to court, C&K acknowledged: “C-K does not know the identity of the entity or individual who engaged Black Cube to perform the investigation on which the Report is based.”

Yet, in February 2025, a New Jersey Superior Court ordered disclosure. Black Cube, for its part, maintains it stands by the investigation’s findings. In April 2025, the firm declared: “Black Cube stands firmly behind the contents of the investigative report and is fully prepared to prove its validity and accuracy in court.”

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Wider ramifications for the industry

Analysts tracking the dispute warn that the fallout could taint sentiment for the broader iGaming sector. Analysts at Regulus Partners commented that the industry “does not need any more help to make itself look dishonest.”

“This latest revelation is simply grist to the mill that the industry as a whole cannot really be trusted to do the right thing even though the majority of operators and suppliers are decent companies staffed by decent people trying to provide a decent product,” said Regulus. “An industry that can only thrive with its social contract intact simply cannot behave like this.”

Regulus further pointed out that Playtech has already had approximately 30 % of its stock market value wiped out since the accusations came to light, illustrating that investors regard the threats as more than just embarrassment.

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What next? Monitoring, litigation and reputational risk

The legal fight is now intensifying, with Evolution pushing to bring Playtech into the pending litigation alongside Black Cube and C&K. Meanwhile, regulators in the United Kingdom, and elsewhere, will be watching how the case develops—for it may touch not just one company but set precedents for supplier conduct, the use of private intelligence in competitive rivalry, and the limits of acceptable investigative tactics.

For both companies, the stakes are high: evolution of reputation, regulatory trust, and the economic implications of market confidence. As the dust settles, the question remains whether this episode will prompt a shift in how supplier rivals and regulators view intelligence-gathering in competitive settings—especially within an industry so heavily regulated and reliant on integrity.

Source:

, igamingbusiness.com, October 22, 2025.

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