The secret report that complicates Evolution: it made money in markets where its casinos were banned –

A confidential report commissioned by Evolution, one of the global giants in online casinos, revealed that the company earned revenue through operators offering its games in markets where they were prohibited. The document, prepared by the consultancy Spectrum Gaming Group, was made public this week as part of a legal dispute in the United States and published by the Financial Times.

Among the markets where the report was able to verify access to Evolution games are Hong Kong, Singapore, United Arab Emirates, and Saudi Arabia. Spectrum also noted significant deficiencies in the company’s compliance controls and that insufficient measures had been taken to prevent certain sites from continuing to offer its products in those jurisdictions.

A report Evolution wanted to keep confidential

The study was commissioned by Evolution after the intelligence firm Black Cube prepared a report on the company’s business practices. Evolution had tried to keep the Spectrum document secret, arguing that it contained sensitive commercial information.

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However, the report ended up being publicly disclosed as part of litigation in a New Jersey state court. The document also pointed out issues related to operators using virtual currencies, for which additional due diligence controls were appropriate.

The study found no evidence supporting allegations that Evolution had operated in countries subject to U.S. sanctions, such as Syria or Iran. The company, for its part, declined to comment on the report.

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