In response to accusations made in November 2021, the DGE Atlantic City opened an investigation against EvolutionGaming. The inquiry emerged following claims of Evolution’s suspected violations of US sanctions. More specifically, it allegedly operated in unapproved foreign jurisdictions such as Iran, Syria, and Hong Kong. After a thorough examination, the NJDGE found no evidence of wrongdoing by Evolution.
The formal conclusion of the investigation has thus been reached. Consequently, Evolution has received a clean bill of health and an indication that no further action is necessary. To further highlight the lack of evidence supporting the allegations and fight for its reputation, Evolution spoke up in a press release:
“The NJDGE found no evidence that Evolution sanctioned, promoted, permitted, or otherwise materially benefitted from its content offered by operators in any market that the NJDGE considers a prohibited jurisdiction.”
Is Evolution Gaming legit? That’s the burning question on many minds following allegations examined by the DGE Atlantic City in November 2021 that Evolution engaged in misconduct.
Although the NJDGE supported Evolution’s internal review and confirmed no breaches of regulations, legal challenges persist. Evolution strengthened its compliance procedures by conducting an internal examination in response to concerns that its products were reaching banned regions. The NJDGE expressed support for these efforts, affirming once more that they did not breach any regulations.
However, despite these measures, EvolutionGaming faces a significant legal challenge in the form of a class-action lawsuit.
Accusers charge the company with misleading investors about its regulatory compliance and growth potential, even though it asserts to have performed adequate due diligence. The complaint claims that the CEO and CFO of Evolution made misleading representations concerning their company’s activities in illicit gaming marketplaces.
DGE Atlantic City witnessed online casino earnings rise, topping $1.92 billion in revenue last year. Moreover, the NJ casino revenue reached a new high in January 2024 with $183.3 million. The publisher’s continuous development proves one more time it’s here to stay and prosper in the NJ market, even in the face of continuous legal concerns.
EvolutionGaming has been providing strong numbers since its launch in 2018. The online casino software provider continues its streak with partnerships with top casinos like BetRivers Online Casino NJ, BetMGM Online Casino NJ, and Caesars Palace Online Casino NJ. Alongside the Caesars Group, they also established a new live dealer studio in Tropicana Atlantic City, which will be their third site in the state.
Since 2013, Garden State has been at the center of the legal gambling industry. Even despite theCOVID-19 regulations, the business has grown significantly. In good news, the revenue reached previously unheard-of levels in January 2024, demonstrating once more the industry’s tenacity. Evolution’s contribution to the success of New Jersey’s online casinos is further shown by a 23.5% rise in operational revenue in its 2023 financial report.
