Playtech’s stock took a wild ride on the London Stock Exchange, plummeting 36% after Evolution accused the company of hiring Black Cube to orchestrate a smear campaign. The share price cratered from 340 GBP to 220 GBP in just two hours, leaving investors reeling. By the end of the day, though, Playtech’s swift response helped the stock claw its way back to 280 GBP, though it was still shy of its starting point. playtech shares black cube
The chaos kicked off when Evolution named Playtech Software Limited as the mastermind behind a 2021 Black Cube report, allegedly paid for with a hefty £1.8 million to tarnish Evolution’s reputation and gain a competitive edge. The market didn’t take kindly to the news, with traders dumping shares faster than a hot potato, sending Playtech’s value into a tailspin that shook the iGaming world.
Playtech didn’t sit idly by. They fired back, calling Evolution’s claims “wholly untrue” and accusing their rival of deflecting attention from their own questionable practices. While admitting to hiring an intelligence firm, Playtech insisted the move was legal and meant to address “credible and repeated concerns” raised by industry partners and regulators. This rebuttal restored some investor confidence, fueling the stock’s partial recovery to 280 GBP.
Read also: Logifuture strengthens relationship with Aristocrat Interactive through new Simulate integration
The feud traces back to a 2021 Black Cube report that accused Evolution of operating in sanctioned markets—claims Evolution dismissed as fabricated. Playtech, meanwhile, stood by the investigation, arguing it carried “regulatory significance.” With both sides digging in, this corporate slugfest shows no signs of cooling off. playtech shares black cube
