Lead · Black Cube / Legal
The Black Cube Affair: £1.8M, a Spy Firm, and a Legal Battle With No Clear Winner
Playtech paid an Israeli intelligence firm to destroy Evolution's reputation. Four years, two regulatory clearances, and $14B in damages claims later — neither company's hands are entirely clean.
By $EVO MONTHLY · Updated March 2026 · NJ Court filings, NEXT.io, iGaming Business
⚠
Litigation Risk
ELEVATED
↑
Damages Claimed
$14 Billion
Long Read · The Shadow Owner
Ghost Capital: A Portrait of Kenneth Dart, the Reclusive Billionaire Who Owns a Quarter of EVO
No photographs. No interviews since 1993. Foam cup heir. Vulture investor. Renounced US citizenship. Now 25.44% of Evolution — and 15% of FanDuel's parent. The most powerful person in iGaming nobody talks about.
25.44%
STAKE · EVO SS
SPRING MOUNTAIN INV.
EVO SS — Price History
LIVE · TRADINGVIEW
P/E TTM
19.2×
EBITDA Q1'25
65.6%
Div. Yield
4.1%
FCF Yield
9.6%