Evolution Gaming has reached a settlement with the UK Gambling Commission, agreeing to pay £4.75 million following an investigation into its black market activities that began in December 2024. The regulator discovered that Evolution’s game content was accessible through two operators on six websites that were offering services to British consumers without a valid UK license.
In a statement on Wednesday, Evolution emphasized that the unlicensed operators had "actively evaded restrictions in place at the time." The company noted that throughout the 18-month review period, there was "no broader pattern of unlicensed access to Evolution content in the UK."
The statement went on to highlight that Evolution fully cooperated with the Commission, adhering to its long-standing commitment to regulatory engagement. The company stated that it routinely undertakes technical, legal, and commercial measures to identify, resolve, and prevent unauthorized access to its content. Upon discovering the issues, Evolution promptly terminated its commercial relationships with the two operators involved.
Following the Commission's investigation launch, Evolution implemented ring-fencing actions throughout Europe to prevent its games from being offered through any other unlicensed operators. These actions impacted profitability in 2025, as indicated in its Q1/25 results. Evolution reported a 5.4% decline in profit to €254.7 million ($289.7 million), while group net revenue rose 3.9% year-on-year to €521 million.
Carlesund noted in the earnings report, "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. The effects have varied, with the largest negative revenue impact in markets where channelisation is low."
In the full-year 2025 results presented in February, Carlesund expressed his belief that Evolution had "the strongest ring-fencing measures in place among all [the sector’s] suppliers," but attributed some losses to deteriorating conditions in "regulated markets losing ground."
In response to challenges in its European business, Evolution plans to shift its focus to the Americas, where it anticipates further growth due to a "more stable environment."
Initially, Evolution expected the Gambling Commission’s review to conclude at the end of 2025. During the Q3 earnings call in October, Carlesund remarked, "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."
