NJ Division of Gaming Enforcement Concludes Evolution Investigation
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According to NJ online casino software provider Evolution, they’ve been informed that no further action will be taken regarding misconduct allegations after an investigation by the New Jersey Division of Gaming Enforcement.
Evolution, a well-known live dealer game partner, allegedly violated US sanctions by operating in unauthorized international jurisdictions.
2021 Report
This comes after a November 2021 report prepared by an “unidentified firm” and sent to the New Jersey Division of Gaming Enforcement.
In that report, the unidentified firm alleged that Evolution was engaging in misconduct.
From here, the New Jersey Division of Gaming Enforcement launched an investigation. Now, they’ve reported no evidence that Evolution “sanctioned, promoted, permitted, or otherwise materially benefitted from its content offered by operators in any market that the NJDGE considers a prohibited jurisdiction,” per a press release from Evolution.
While the New Jersey Division of Gaming Enforcement comes to a close, they still face a class-action lawsuit. The suit comes from investors who bought shares between February 2019 and October 2023, alleging that Evolution made untrue/misleading statements about their growth. This came after a report that mentioned Evolution offering their products in Syria, Iran, and Sudan, which Evolution claims, if they’re available, they’re from a third party with bad intentions.
The Gross Law Firm Statement
According to a press release from The Gross Law Firm, the allegations are worded in the following ways:
“The complaint alleges that during the class period, Defendants issued materially false and/or misleading statements and/or failed to disclose that: (1) in "allowing play" from certain jurisdictions, multiple customers of Evolution AB's were, or were deemed by regulators to be, unlicensed and/or in breach of the laws of those jurisdictions; and (2) defendants' statements were false, as they misrepresented the extent of Evolution AB's involvement with regulatorily non-compliant customers. When the true details entered the market, the lawsuit claims that investors suffered damages.”
Evolution mentioned that, in conjunction with the New Jersey Division of Gaming Enforcement investigation, they conducted their internal investigation. While “due diligence and compliance processes were sufficient,” they’ve said they “took the opportunity to enhance its processes.”
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