Lotteries.com Operating License Suspended by UKGC

Lotteries.com Operating License Suspended by UKGC

The UK Gambling Commission today announced the suspension of the operating license of Lotteries.com operator Multi-Media Entertainment. The regulator is investigating anti-money laundering policies and social responsibility practices at the firm.

UKGC investigation continues

The UK Gambling Commission has reviewed the license of Lotteries.com operator recently. It is investigating the firm under section 118(2) of the Gambling Act of 2005. The section refers to the licensee’s offer of remote facilities for remote casinos as well as the remote general betting standard. The regulator suspended the firm’s license owing to concerns over its social responsibility and anti-money laundering policies. It plans to review the company thoroughly before allowing it to offer services again.

The suspension of the license will be effective immediately. However, the regulator has informed customers that they will be able to get full access to their accounts and will be able to withdraw funds as well. The commission said that it will be informing the customers about the progress in their investigation from time to time. It added that Lotteries.com is following transparency with the customers about the investigations.

What is Lotteries.com’s take?

The operator has not made any public statements about its license suspension. In February, it informed of its plans to update the existing platform, the transition to which would take about four weeks. During this time, the company would not allow users to place bets or make any fresh deposits into their accounts.

The UKGC has been cracking down hard on any gambling operators that do not have proper procedures in place and violate the country’s norms. In 2020, its efforts to investigate and penalize such companies have only gotten stronger. This month, it put Stakers Ltd.’s license on hold. Last month, it suspended the licenses of Addison Global Limited because of which its MoPlay brand ended up selling its UK and Ireland business to Betfred. In February, the regulator also suspended the license of Matchbook. The reasons for the action were not clear.

The regulator aims to make the British gambling business take a stronger stance on responsible gambling and reflect on their social commitments.

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About sherlock

Sherlock Gomes loves to write and express his views on anything related to Gaming, Gambling, & Casino. He has been covering Gaming for more than two years now.

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