Evolution Gaming has struck a deal with the UK Gambling Commission, agreeing to pay £4.75 million following an investigation into its black market operations that began in December 2024. The inquiry revealed that Evolution’s game content was accessible through two operators operating six websites that targeted British consumers without a UK license.
In a statement issued on Wednesday, Evolution remarked that the unlicensed operators “actively evaded restrictions in place at the time.” The company also emphasized that during the 18-month investigation, “no broader pattern of unlicensed access to Evolution content in the UK has been identified.”
Evolution highlighted its commitment to regulatory compliance, stating it has always cooperated fully with the Commission. The company routinely undertakes technical, legal, and commercial measures to prevent unauthorized access to its gaming content, and it terminated commercial relationships with the two operators involved immediately upon discovering the infringement.
Following the initiation of the Commission’s probe in 2024, Evolution implemented ring-fencing measures across Europe to prevent any further provision of its games via unlicensed channels. However, this shift impacted the company’s profitability in 2025.
In its Q1 2025 report, Evolution disclosed a 5.4% decline in profit, amounting to €254.7 million ($289.7 million) on a group net revenue of €521 million, which showed a year-on-year increase of 3.9%. Johan Carlesund, the company’s CEO, noted, “On top of what we have already done in the UK to meet regulatory requirements, we have taken proactive and self-initiated actions in February to ring-fence additional regulated markets in Europe.” He acknowledged that the effects of these measures varied, with the most significant negative revenue impact felt in markets with low channelization levels.
When discussing the full-year results for 2025 in February, Carlesund claimed that Evolution had established the sector’s strongest ring-fencing measures, but also attributed some losses to “regulated markets losing ground.” In light of the challenges in its European business, Evolution is now turning its attention to the Americas, anticipating continued growth due to “a more stable environment.”
Initially, Evolution had expected the Gambling Commission’s review to conclude by the end of 2025. During a Q3 earnings call last October, Carlesund stated, “When it comes to the UK Gambling Commission timeline, unfortunately I don’t have any other information. It’s in the hands of the regulator, and our estimation is that it will be by the end of this year.”
