Britain’s Gambling Commission has commenced a review of Evolution’s operating licence in the United Kingdom.
The review has been initiated against Evolution Malta Holding under Section 116 of the Gambling Act 2005, after the Commission identified Evolution games being accessible from the UK through operators not holding a licence.
Evolution said that the company is cooperating fully with the Commission and has taken requested immediate actions to remedy the situation, with games on the identified unlicensed websites being made unavailable in the UK.
The review can have a range of outcomes, which include no action being required, conditions being imposed on the licence, financial sanction, suspension and revocation of the licence to operate.
“Evolution embraces the objectives of the review by the Commission,” said Evolution CEO Martin Carlesund. “We are committed to support the licensed UK market as well as preventing unlicensed traffic. We are now taking forceful action using all technical tools available to us to ensure that our games only are available in the UK through Commission licensed operators.
“We believe that a close collaboration to address our joint concerns will lead to swifter and better results. As always we remain committed to an open and transparent relationship with our regulators.”
Approximately 3 per cent of Evolution’s revenue is generated in the UK.
Shares in Evolution AB (STO:EVO) were trading 12.13 per cent lower at SEK804.20 per share in Stockholm Monday morning following the announcement late-Friday.