Playtech’s £500K ‘Success Fee’ Arrangement With Black Cube Uncovered in Court Filings

Court filings have revealed that Playtech paid private-intelligence firm Black Cube a series of “success fees” to investigate rival Evolution — including a potential £500,000 payment if Evolution were to lose its gaming license.

According to Evolution’s submissions, total payments exceeded £1.8 million. However, that figure has not been confirmed.

The filings, submitted November 3 in New Jersey Superior Court, include deposition transcripts from Black Cube director and co-founder Avi Yanus. They detail how operatives secretly posed as investors to record Evolution executives between 2021 and 2024. Some of the recordings surfaced in August 2025, suggesting Evolution was aware that its content was available in countries like Syria and Sudan.

Series of ‘Success Fees’

Last month, it was revealed that Playtech was the mystery company that hired Black Cube to investigate Evolution.

According to the November 3 filings as reported by the Financial Times, Yanus testified that Playtech paid his firm an initial £400,000 to conduct a three-month investigation in 2020. That payment preceded a series of success fees, starting with £150,000 for providing evidence of wrongdoing.

Black Cube then received £175,000 for a media exposé by Bloomberg in 2021. That was followed by £350,000 if a gaming regulator opened an inquiry, which the New Jersey Division of Gaming Enforcement did. Also, another payment of £500,000 was tied to Evolution losing a gaming license. A second agreement in 2022 added further incentives.

Black Cube ultimately earned £675,000 after achieving the first three objectives. In addition to the initial £400,000, the firm collected more than £1 million in total payments.

Black Cube operatives created fake companies such as Parvus Capital, complete with fabricated websites and email addresses. They used the imitation companies to stage meetings with Evolution staff under assumed identities.

Yanus defended the firm’s investigative approach during his deposition. He maintained that Black Cube’s work followed a defined and transparent process.

Evolution denied Black Cube’s findings after they surfaced in 2021. However, the media expose led to Evolution losing over $3 billion in market value. The company then filed the defamation lawsuit, which is part of the November 3 filings.

Fallout & Regulatory Response

In February 2024, the New Jersey Division of Gaming Enforcement concluded its investigation. It found no evidence that Evolution “sanctioned, promoted, permitted, or otherwise materially benefited” from operators offering its games in prohibited jurisdictions.

Evolution has continued to deny Black Cube’s allegations. In court filings, the company said the evidence presented by the intelligence firm — including video recordings — was inaccurate, selective, and taken out of context.

Playtech, for its part, has continued to defend the integrity of the investigation. The company stated that it welcomes judicial scrutiny of the report and remains confident that the court will uphold the findings.

The issue resurfaced during Evolution’s Q3 2025 earnings call, when CEO Martin Carlesund publicly condemned the defamation campaign traced back to Playtech.

“When someone behaves in that way, hides for four years doing this type of action, that [with] Black Cube using Juda as a PR company, it takes a bit away from my belief in humanity and fair play and in ethics and moral[s],” Carlesund said.

“Exactly how we will assess the damages, that’s a later question, but it’s a severe amount.”

The defamation case against Playtech is ongoing in New Jersey, with proceedings expected to continue through 2026.

Black Cube’s Record & Ethics Shift

Founded in 2011 by former Israeli intelligence officers, Black Cube has drawn scrutiny for representing clients with controversial reputations. They include Harvey Weinstein and Beny Steinmetz. The firm has since pledged not to take sexual-harassment or violent-crime cases and to avoid offensive cyber techniques like hacking.

Black Cube also hacked email accounts belonging to associates of then-Romanian anti-corruption prosecutor and now European Chief Prosecutor, Laura Kövesi. Several of its operatives faced charges in connection with the operation.

Black Cube told the Financial Times, it “proudly submitted its findings in coordination with its client.” It asserted that “the extensive body of evidence, including countless hours of video and audio recordings, leaves no room for doubt: Evolution knowingly and deliberately allowed its games to operate in sanctioned jurisdictions and black markets.”

Playtech has reportedly covered all of Black Cube’s and its law firm, Calcagni & Kanefsky’s, legal expenses. The total costs are now reportedly running into the millions.