Response to statement by Evolution AB
Playtech defends commissioning business intelligence report on Evolution's market practices and regulatory compliance.
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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.
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