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A court case in New Jersey has revealed that gambling software giant Playtech paid over £1.8 million ($2.4 million) to private intelligence agency Black Cube between 2021 and 2024 as part of a secret campaign investigating — and allegedly attempting to discredit — Swedish rival Evolution.
Covert Investigation and Fake Identities
According to court documents, Playtech hired Black Cube — a Tel Aviv-based firm founded by former Israeli intelligence officers — to look for evidence suggesting that Evolution’s games were being offered in restricted or sanctioned markets. The agreement included both fixed and success-based payments, starting with a £400,000 ($524,000) retainer for a three-month inquiry and bonuses tied to “damaging findings,” media exposure, or regulatory intervention.
In testimony, Dr. Avi Yanus, Black Cube’s co-founder, confirmed that agents created fake companies, websites, and email accounts to approach Evolution executives under false pretenses, posing as potential investors. These undercover operatives recorded meetings and gathered material allegedly showing Evolution’s games in prohibited jurisdictions.
Fallout and Regulatory Impact
The intelligence collected became the basis for a complaint filed with New Jersey’s Division of Gaming Enforcement in 2021 by law firm Calcagni & Kanefsky. When Bloomberg later reported on the complaint, Evolution’s stock fell nearly 30% within a week, triggering further “success payments” to Black Cube. Playtech continued funding the project as inquiries spread to regulators in Pennsylvania and New Jersey, even offering a £500,000 bonus if Evolution lost any licenses — a target that was never met.
By 2024, U.S. regulators dismissed the allegations as “baseless” and closed their investigations.
Playtech has defended its actions, saying it commissioned the probe to ensure compliance, not to damage a competitor. The company maintains that the findings remain valid and may still hold legal weight. Evolution, however, has called the claims false and misleading, accusing Playtech of orchestrating a smear campaign through third parties.
Black Cube has stood by its work, stating it conducted the operation “with full client awareness.” Yanus said the covert methods were necessary to “uncover the truth.”
The revelations have rocked both companies — Playtech’s shares fell roughly 25% following the disclosures, while Evolution continues to contest the allegations in court.
Source: Gambling News
