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Arbitrators found against the companies and ordered them to pay millions of dollars toward Laos’ legal costs and expenses.

One tribunal found in 2019 that Lao Holdings had acted in bad faith and ordered it to pay Laos $1.95 million. Another made a similar finding against Sanum and awarded the government $1.78 million.

A third arbitration produced another award worth nearly $1.3 million, taking the amount Laos is seeking to more than $5 million.

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Despite the delay, Weizer declared: “I will say that the expectations remain the same to enter into an agreement and launch sometime at the beginning of next year.”

Playtech CFO and Director Chris McGinnis told analysts on Thursday that the deal could provide an additional boost to the company’s medium-term outlook.

He explained the Brazil opportunity wasn’t explicitly built into Playtech’s medium-term guidance when it was set after its full-year results in March last year.

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“If red flags become known to Evolution during this onboarding process, Evolution should either determine not to do business with the company or undertake enhanced due diligence to resolve the red flags before engaging in business with the company,” Spectrum advises.

Within its investigation Black Cube named a number of Evolution employees which it had interviewed and reported to have provided information on the company that supported the intelligence firm’s claims.

An interview carried out by Black Cube with CEO of games developer Ezugi Kfir Kugler had allegedly confirmed that Evolution knowingly provided games in markets sanctioned by the New Jersey Division of Gaming Enforcement.