Live casino operator Evolution could be in hot water with regulators in the US, according to a 120-page report, seen by Bloomberg.
Evolution has been named in a complaint by a US-based group who hired third-party investigators to probe whether the company’s products have been available in various prohibited jurisdictions, including countries on the US sanction list.
The investigators claim to have found evidence that Evolution games have been available in places such as Sudan, Iran and Syria and that members of Syrian President Bashar al-Assad’s family have been able to play.
The complaint was brought up by law firm Calcagni & Kanefsky, which represented the investigators, and in turn has been asked to conduct the investigation by the group.
Responding to the report, Evolution head of investor relations Carl Linton said that the company complies strictly with all applicable laws and regulations. He argued the assertions made in the complaint submitted to the New Jersey Division of Gaming Enforcement were not accurate.
Evolution said the allegations in the report have impacted the company’s stock, with $3bn written off its value.
Speaking to Reuters, a spokesperson for the company said that it used various tools to block access to countries on sanction lists.
While Evolution denied wrongdoing, investigators have provided evidence in the form of recordings of Evolution games being played from prohibited locations, Bloomberg claims. The investigators claim to have been able to use Hong Kong and Singaporean IPs to access various games as well.
Bloomberg also said that the complaint clearly states that games were available to illegal operators in Europe that targeted Spain, Sweden and Italy. Bitcoin (BTC) was the preferred currency that was used at such casinos to conduct payments, the publication added.