A legal fight in New Jersey has exposed a network of hidden activities connecting gambling software powerhouse Playtech, private spy agency Black Cube, and casino game maker Evolution. Court papers show that Playtech gave over GBP 1.8 million ($2.4 million) to Black Cube from 2021 to 2024 for a secret project aimed to examine, and maybe harm the reputation of its rival from Sweden.

Black Cube Uses Fake Identities to Infiltrate Evolution in Playtech-Backed Operation

The partnership kicked off when Playtech worried that Evolution might be offering its games in off-limits and sanctioned markets, and reached out to Black Cube to find proof. The Tel Aviv-based company set up by former Israeli intelligence agents took on the job under several contracts that spelled out both fixed and performance-based payments. They agreed on an initial fee of GBP 400,000 ($524,214) for a three-month investigation, with extra “success fees” promised for specific results like finding damaging material, getting media attention, or sparking regulatory action.

Dr. Avi Yanus, a co-founder of Black Cube, said in his testimony that the company’s agents created fake corporate identities. These identities included websites and email addresses. The agents used them to get close to Evolution executives. They pretended to be investors and recorded meetings. They also gathered data to back up claims that people were playing Evolution’s online games in banned areas.

Black Cube’s Report Triggers Market Shock as Playtech’s Covert Probe Hits Evolution

Black Cube’s findings became the core of a complaint that law firm Calcagni & Kanefsky filed with New Jersey’s Division of Gaming Enforcement in 2021. When Bloomberg shared details of this complaint in November, Evolution’s stock price dropped by almost 30% within a week. This big drop led to another payment to the investigators for their success.

Playtech put more money into the operation as it got bigger. The company paid extra when officials in New Jersey and Pennsylvania started looking into Evolution’s work. They also offered another GBP 500,000 ($655,140) if any of Evolution’s gaming permits were taken away. Nobody got this last reward, because US officials later said the claims were “baseless” and stopped their checks in 2024.

Playtech says they did these things because they were worried about following the rules, not to hurt a rival. People speaking for the company say the information they collected is still good and should be looked at in court. Evolution, on the other hand, calls the report wrong and misleading. They say their competitor tried to make them look bad through other people.

Black Cube stands by its results and methods, claiming it carried out all operations with the client’s full awareness. In court, Yanus argued that using hidden identities and recording talks was crucial to “uncover the truth.”The revelations have shaken both firms. Playtech saw its stock drop by about 25% after its involvement came to light, while Evolution keeps fighting the accusations in court.