Playtech Sinks as Evolution Says Rival Was Behind Smear Campaign
Playtech Plc, a British gambling technology group, saw its shares plummet by as much as 39%, wiping out over £400 million ($535 million) in market value. This was prompted by an accusation from its Swedish rival, Evolution AB, which claimed that Playtech had commissioned a smear campaign in an attempt to "destroy its reputation." The two companies are major players in the online gambling industry, and the alleged smear campaign has sparked a significant controversy. Playtech, however, has yet to respond to the allegations made by Evolution AB. The news highlights the intense competition and potential for controversy within the rapidly growing online gambling sector. Investors and industry observers will be closely monitoring the developments as the two companies navigate the fallout from these allegations.
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