Playtech’s share price dropped 27% after the news broke that it was the secret company that employed private intelligence firm Black Cube to expose rival gambling software company Evolution AB.
The legal battle has gone on for several years, and the accuser’s identity remained hidden until a New Jersey Supreme Court ruling earlier this month declared that Black Cube would have to reveal its client’s identity or be held in contempt of court. NEXT.io first reported the news on Tuesday.
Playtech reportedly paid Black Cube £1.8m ($2.4m) for its work.
Black Cube first released a report in 2021 detailing how Evolution’s live dealer casino games were available in US-sanctioned nations like Iran and Syria. The private intelligence firm then released secret recordings in August 2025, allegedly showing Evolution executives explaining how to get around restrictions. Playtech reportedly paid Black Cube £1.8m ($2.4m) for its work.
Evolution’s next step will be to name Playtech as a defendant in a lawsuit as it tries to recover from the scandal’s reputational and business damage. It has lost $15bn in market value since the accusations first emerged in 2021.
