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Evolution then commissioned Spectrum Gaming Group to produce a report on its actions and the validity of the Black Cube report. Produced in 2022, the report has long been subject to confidentiality despite Evolution claiming the report exonerated the company.

Playtech on Wednesday published a statement highlighting what it claimed were compliance failures at Evolution, written into the Spectrum report.

Within the report, Spectrum alleged “concerns around the availability of Evolution’s games in certain prohibited markets, the regulatory implications of its practices, and the lack of proactive monitoring of its customers”.

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Vicki Scott, the DIA’s director of gambling, said the investigation had delivered significant results, while stressing that work to improve compliance and ensure communities received their share of gambling proceeds would continue.

“Most operators have worked constructively with us to address historical issues and improve their practices,” Scott said.

“While we’ve made substantial progress, our work is not finished. We’ll continue working with operators to recover funding for communities, improve compliance and maintain public confidence in the integrity of class 4 gambling.”

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In August newly appointed CFO Michael Snape said the move was expected to de-lever, unlock and return capital to shareholders.

Future proceeds from Entain’s full exit of Entain CEE will be used to reduce group reported leverage below 3x, with excess capital returned to shareholders, the company said.

Analysts remain bullish on the operator’s future following its H1 earnings report. A Goodbody note dated 13 August hailed “another positive update, with H1 adjusted EBITDA landing comfortably ahead of expectations”.