Jacob Kaplan, CFO at Evolution, has stepped down from the role as the online casino supplier continues to face regulatory scrutiny and a series of fines.
On Tuesday, Evolution announced Kaplan’s decision to step down from his position as CFO after joining the B2B casino solution provider in 2016. Kaplan, who will remain in an advisory role for an unspecified period, will be replaced by Joakim Andersson on 18 February.
”I want to thank Jacob for his work and contribution to the development of Evolution into the group we are today,” said Evolution CEO Martin Carlesund. “He has been an integral part of our management team and played a key role in our expansion and mission to improve the company each day. We wish him all the best in the future.”
Andersson is taking over as CFO after holding the same role at Stockholm-based private equity real estate investor Slättö. Before Slättö, he served as CFO and Senior Advisor at Swedish software development and research technology company Cint.
He also spent 12 years at Kinnevik AB as Group Treasurer and CFO & Head of Strategy.
Kaplan has relinquished his role after the UK Gambling Commission announced a review of Evolution’s license. The commission initiated the review after identifying Evolution games that were available through operators without proper licensing.
In a statement, Evolution has vowed its full cooperation with the review and has remedied the issue. According to data provided by the company, approximately 3% of its total revenue comes from the UK market.
“We are committed to support the licensed UK market as well as preventing unlicensed traffic,” said Carlesund in the statement. “We are now taking forceful action using all technical tools available to us to ensure that our games only are available in the UK through commission-licensed operators.”
Evolution faces potential suspension or revocation of its license, penalties or no penalty.