No further action: New Jersey regulator concludes investigation into Evolution AB

February 20, 2024
Leer en Español

No evidence was found that the supplier engaged in misconduct.

The New Jersey Division of Gaming Enforcement (NJDGE) has closed its investigation into Evolution AB, concluding that the company did not engage in misconduct.  

The investigation looked into whether Evolution had promoted, permitted, sanctioned or benefitted from operations in market jurisdictions the NJDGE considered prohibited, having initially been reported in November 2021.

At the time, the company was facing share price drops, with Evolution releasing a statement regarding the “reports of allegations of irregularities.” 

“Those allegations originate from an anonymous third party with what appears to be an intention to discredit Evolution,” the company said. Gaming America reported on the initial allegation.  

Alongside the conclusion reached by the NJDGE, Evolution has also conducted internal investigations.

While the live casino supplier was able to confirm that its due diligence and compliance processes were up to scratch, Evolution has since updated its processes to further improve efficiency.  

In 2023, the company saw its operating revenue increase by 23.5%, with EBITDA up 25.7%. In its Q4 report, Evolution CEO Martin Carlesund said, “We see encouraging development in all the regions going into 2024. North America showed strong momentum in Q4 coming back to sequential growth.“

Meanwhile, Evolution North America CEO Jacob Claesson recently spoke to Gambling Insider about aiming to stay ahead of the competition.


Product Spotlight

Bragg Gaming Group

Bragg Gaming Group is a global content-driven iGaming technology provider, serving online and land-based gaming operators with its proprietary and exclusive content and cutting-edge technology.

John Connelly - Interblock preparing to launch online by the end of year

John Connelly, the Global CEO of Interblock, joins the Huddle to talk about:
- The company's conversion to the online space
- The performance of ETGs
- Interblock's new philanthropic efforts
- The trend of companies going private
- And more!

Michael Hershman - Dispelling casino 'myths:' New York needs to lose fear of the unknown

Michael Hershman, CEO of the Soloviev Group, joins Tim Poole on the Huddle to put forward his case that the Freedom Plaza is the way to go for one of New York's casino licences. He fields a variety of questions - not shying away from any of them - on why 'myths' about casinos and a fear of the unknown should be dispelled, as well as acknowledging the strength of rival bids and discussing opposition to the project.

As the Tribal gaming sector congregates once more in the Golden State, is it too cliché of me to suggest we are heading for a golden era of Tribal gaming? With the industry set to meet at the Indian Gaming Association t...

From The Top: Will youth be served by Sports Betting?
Two recent interviews in our Huddle podcast revealed to Las Vegas correspondent Brian Joseph just how young sports betting entrepreneurs are becoming.
The Global Gaming Awards: Rewarding Excellence
The 10th edition of the Global Gaming Awards took place in Las Vegas last year. Gaming America looks back... and ahead to this year's.
Preview: Indian Gaming Tradeshow & Convention
Gaming America looks ahead to the 2024 Indian Gaming Tradeshow & Convention and what attendees can expect when they arrive at the Anaheim Convention Centre.
888 and the US Market: A cautionary tale
Gaming America explores the risk of resting on your laurels and the challenge of remaining relevant in a rapidly expanding market.