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Monday, December 5, 2022

Live casino developer is at the center of allegations

Evolution Gaming, a live casino developer from Sweden, is displaying its games on around 30 websites that are blacklisted in Sweden. The sites have been blacklisted by Swedish Gaming Inspectorate for breaking the Swedish gaming law. The company’s spokesperson stated that they are working on rectifying the situation.

Evolution Gaming Group AB is a company that was founded in 2006 and has developed many casino games to this day. However, recently they were at the center of a contraversy in Sweden due to offering their games on blacklisted sites. Most of these sites belong to several different companies which are located on Curaçao, a Caribbean island known for its lax system of regulation on gaming.

On these recent developments, Carl Linton, Evolutions IR manager, said:

“If it turns out that our games are playable on any of the sites listed by the Swedish Gaming Inspectorate, we will of course address this urgently”

There is more to the alleged illicit activities of Evolution

According to a recent report that was sent to the gaming authority in New Jersey, the company was relying heavily on undergulated markets. Also, the report has shown that Evolution has provided its games in countries that are under sanctions. In light of these developments, the company’s stock price dropped by about 40% during the period from mid-November to early December. However, the share has somewhat recovered and it is up 42% for the whole of 2021.

It is worth mentioning that Evolution is currently not under the supervision of the Swedish Gaming Inspectorate. Because right now Sweden does not have licensing requirements for subcontractors. As of what the future holds for the company, we will see it as time goes by.

Sena Konakci
Sena Konakci
A true free spirit, Sena (she/her) spent a substantial part of her life travelling the world and was working for successful startups in many different fields along with writing for local newspapers and magazines for over two decades. With a knack for detecting promising businesses and years of experience under her belt, Sena has decided to focus her attention on writing about startups. Aside from following the newest developments in the startup scene of the Nordic countries, she loves volunteering and camping in her spare time.

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