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Lottomatica will absorb Cirsa though an EU cross-border statutory merger, with Lottomatica continuing as the surviving entity.

Once the deal is completed, current Lottomatica shareholders are expected to own around 67.5% of the share capital, with Cirsa’s shareholders owning the remaining 32.5%.

Cirsa shareholders will receive 0.668 newly issued Lottomatica shares for each of their shares in Cirsa.

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The supplier had so far stood behind Black Cube’s investigation, and previously described it as “undertaken lawfully” to understand and verify “concerns of significant regulatory and commercial importance”.

Spectrum’s report was subsequently commissioned by Evolution to refute Black Cube’s accusations. In its latest release on Wednesday, Playtech said Evolution had “publicly characterised the Spectrum Report as exonerating it”.

But Playtech has claimed that the Spectrum report, which is now publicly available, was unable “to confirm or refute” some of Black Cube’s claims, “as Evolution failed to provide Spectrum with significant information it had requested”.