After Concluding its Evolution Investigation, the NJ Division of Gaming Enforcement Finds No Wrongdoing
According to a press statement from Evolution, New Jersey gaming authorities concluded their investigation into one of the online casino operators in NJ and discovered no proof of any wrongdoing.
The investigation into claims that Evolution, a live dealer partner of many NJ online casinos, operated in unapproved foreign countries in violation of US sanctions has been resolved by the NJ Division of Gaming Enforcement. The allegations stemmed from a 2021 report that an undisclosed company filed with authorities.
According to a press statement from Evolution, the NJDGE concluded that there was no proof that Evolution approved, encouraged, allowed, or in any way financially profited from its content that was made available by operators in any market that the NJDGE deemed to be outside of its authority. Well, it seems like the fans of Evolution casino games have nothing to worry about, right? Well, there’s still the matter of a class-action lawsuit.
Evolution is Still Facing a Class-Action Lawsuit
According to the report sent to New Jersey regulators, the online gambling goods of the Swedish gaming corporation were accessible in Sudan, Syria, and Iran.
Evolution claims that certain sophisticated workarounds would need to be established by a hostile third party for that to occur. According to the company, Evolution now collaborates with operators and state authorities to put in place mechanisms that prevent play from coming from certain nations.
In a news statement, Evolution said that the DGE supports the improvements it has made and that its compliance and due diligence procedures were adequate. There were no jurisdictional breaches associated with the improvements.
Even if the DGE predicament is resolved, Evolution must contend with a class-action lawsuit that claims it deceived investors about its prospects for development and compliance with regulations.
Investors who purchased shares between February 2019 and October 2023 filed the lawsuit, claiming that Evolution had made false or deceptive claims about its potential for development, compliance, and the impact of non-compliance on revenue.
