Evolution Reaches £4.75m Settlement in UKGC Licence Review

Evolution has agreed to pay £4.75 million to the UK Gambling Commission, closing the licence review that began in December 2024.

Read more The truth behind referee Ismail Elfath’s 100% record with Lionel Messi

The case centered on findings that Evolution’s games were being offered to British consumers through two operators on six websites that did not hold UK licences, in breach of the company’s supply terms. 

The company cooperated fully with the Commission and cut ties with the operators as soon as the issue was discovered. While acknowledging that no system can completely block attempts to bypass controls, Evolution stressed its commitment to investing in compliance and working closely with regulators to uphold industry standards.

“At Evolution, we always want to do what is right, and it is not acceptable that six unlicensed sites offered Evolution content in the regulated UK market. We do not want traffic from unlicensed operators and will always move quickly to address any such situation. We welcome the conclusion of the review and remain focused on continuing to supply our world-leading games to licensed operators in the UK,” Martin Carlesund, CEO of Evolution, said in the Wednesday press release.

Ring-fencing measures take toll on Evolution’s performance

The licence review closed after a difficult stretch for Evolution, as the investigation pushed the supplier to tighten its ring‑fencing strategy 

In February 2025, the Stockholm‑listed company rolled out stronger technical controls and wider geoblocking across Europe to stop unlicensed operators from offering its content. 

Read more Kevin Durant explains why Philadelphia fans ‘fear you a little bit’

Carlesund had once hoped the process would wrap up before the end of 2025, but later admitted the company had not heard back from the UK regulator since the summer and was left waiting. The delay, combined with the new restrictions, weighed heavily on Evolution’s European business. 

Throughout 2025, the enhanced measures slowed growth in the region and dragged down results. 

For the full year, net revenue stayed flat at €2.07bn, but profit dropped 14.6% to €1.1bn, and EBITDA declined 9.2% to €1.4bn. Fourth‑quarter net revenue slipped to €514.2m (£437.8m) from €533.8m a year earlier, while EBITDA fell to €393.2m compared with €455m in Q4 2024.

Stocks rise as company sets sights on Galaxy Gaming

The settlement released pressure off Evolution, and investors quickly responded. Shares climbed by about SEK10 (77p) to SEK692.20 within two hours of the announcement according to SBC News.

With the review behind it, the company is now focused on its next move: a £63.4m acquisition of US‑based Galaxy Gaming. The deal, first announced in November 2025, is designed to strengthen Evolution’s reach in table games and technology. Regulatory approvals have delayed completion, pushing the deadline to July 2026. 

Read more ANJL President Says Online Betting Is Not Responsible for Brazil’s Retail Challenges