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Notably, Spectrum said within its report that it did not believe Evolution had engaged in any illegal practices. It also refuted allegations concerning cash payments and the use of Evolution’s games in sanctioned countries.
However, Playtech suggested that Evolution had failed to provide data that would have let Spectrum determine whether gaming sessions had occurred in Iran, Syria and Sudan.
It also said Spectrum was able to “specifically corroborate” Black Cube’s claims that Evolution’s games were accessible and generating revenue in several “prohibited locations”. These included Hong Kong, Singapore, the United Arab Emirates and Saudi Arabia.
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Entain has been demoted from the FTSE 100 to the FTSE 250, according to a quarterly update from the London Stock Exchange Group (LSEG).
It joined the FTSE 100 index on 22 June 2020, cementing its position as one of the UK’s 100 most highly capitalised blue chips listed on the London Stock Exchange.
Although it will remain on the FTSE 250, Entain’s relegation will see it removed from the FTSE 100 on 21 September.
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Ahead of the government’s Autumn Budget in October, Entain CEO Stella David cautioned that doubling the current MGD rate to 40% could result in widespread closures of betting shops and significant job losses, while potentially reducing tax revenues for the government.
A potential MGD rise was first reported in the The Financial Times, as Chancellor John Healey is allegedly looking to raise the tax, on the recommendation of the Social Market Foundation, which proposed the increase in a recent report.
Prime Minister Andy Burnham had already announced the government’s intention to scrap “aim to permit” for betting shops as well as insisting that AGCs will now need planning permission to function.