USA.- February 22, 2024 www.zonadeazar.com [1]The New Jersey Division of Gaming Enforcement (NJDGE) has concluded its investigation into allegations of misconduct by Evolution, dating back to November 2021.
The case, involving claims that Evolution products were available in countries under US trade sanctions, has been dropped, with no action taken against the provider.
Law firm Calcagni & Kanefsky LLP had raised concerns, prompting Evolution to defend itself, stating the allegations were from an anonymous third party aiming to discredit the business. Evolution emphasized its commitment to compliance and working with regulators to block play from sanctioned countries.
After a thorough review, the NJDGE found no evidence supporting the allegations and declared the matter closed. Evolution, while maintaining its due diligence and compliance processes were sufficient, took the opportunity to enhance its procedures. The NJDGE supported these enhancements, emphasizing they did not relate to any jurisdictional violations.
Evolution defended its products, stating that sophisticated technical manipulation was required for individuals in prohibited countries to access content. The company criticized these efforts as a deliberate attempt to bypass established processes for checking users’ geographical location.
While this development is a relief for Evolution, the provider still faces questions in a separate class action lawsuit, where allegations of deceiving investors regarding growth and compliance have been raised. Entities that bought Evolution shares between February 14, 2019, and October 25, 2023, are part of the lawsuit, which includes Evolution CEO Martin Carlesund and CFO Jacob Kaplan as defendants.
Edited by: @MaiaDigital [2] www.zonadeazar.com [1]