Evolution AB appears to have exited a number of unregulated European markets in Q1 and CEO Martin Carlesund said it has impacted profitability.
In December, Evolution’s UK licence was placed under review by the Gambling Commission, after it discovered games were being provided to unlicensed operators in the country.
As a result of the investigation, Evolution said in its Q1 earnings report today, it had taken steps to ensure its regulatory requirements across Europe are being met by the business.
However, as a result of this pivot, and Evolution likely exiting a number of black or grey markets, Carlesund said profitability had taken a hit during the quarter.
