Evolution AB Moves Closer to Identifying Anonymous Authors of Damaging 2021 Report

_{Company takes a step closer to revealing identity or report author/s. (Image: Evolution)}

Evolution AB have taken a step closer to identifying the author of an anonymous report which caused a significant sell-off of the company’s stock in 2021.

The recent turn of events for the company which provides tech for online casinos came as a New Jersey Superior Court judge ordered the disclosure of the identities behind an anonymous report which accused Evolution of operating in restricted markets, leading to a 36% drop in its share price and an estimated $10 billion loss in market value. This was despite regulatory investigations by the New Jersey Division of Gaming Enforcement and the Pennsylvania Gaming Control Board finding no evidence to support the claims.

Authors of Report May be Gaming Insiders

Although no evidence has come to light to warrant pointing the finger at any of the company’s rivals it has not stopped speculation that this could be the case. Anyone wishing to tarnish Evolution's reputation could be suspect and the company has already accused the report's authors of employing deceptive tactics and coercing false statements from its affiliates. It points to someone with industry experience and or contacts.

Even though the authors remain anonymous they have been represented by litigation firm Calcagni & Kanefsky. It may seem wholly unfair that the authors have managed to  successfully keep their identities hidden. The anonymity may be coming to an end as the court's latest ruling suggests a crucial shift in the ongoing proceedings.

Evolution Resilience Sees Them Recovering in Q4 2024

Despite the setback Evolution has demonstrated strong financial resilience, reporting a 31.5% increase in operating revenues and a 12.3% rise in net revenue for Q4 2024, indicating a recovery from the turmoil caused by the report.

If the identity of the author of the report is revealed it could be a game changer for the gaming industry with potential upheaval particularly if they are connected to a major competitor.

The timeline for unveiling the identities remains uncertain, as Calcagni & Kanefsky may seek to contest the ruling, prolonging the litigation process.