GC follows Gibraltar regulator in suspending Addison licence

first_img The British Gambling Commission has followed its counterpart in Gibraltar by suspending the licence of Addison Global, which operates sports betting site MoPlay, as it conducts a review of the operator. GC follows Gibraltar regulator in suspending Addison licence Legal & compliance Topics: Legal & compliance Sports betting AddThis Sharing ButtonsShare to LinkedInLinkedInShare to FacebookFacebookShare to TwitterTwitter Subscribe to the iGaming newslettercenter_img 20th February 2020 | By Daniel O’Boyle Regions: UK & Ireland Email Address The British Gambling Commission has followed its Gibraltarian counterpart in suspending the licence of Addison Global, which operates sports betting site MoPlay, as it conducts a review of the operator.The British review is being carried out under Section 120(1)(b) of the Gambling Act, which allows the Commission to suspend or revoke a licence if it believes an operator is “unsuitable to carry on the licensed activities”. Addison’s remote operating licence will therefore remain suspended until the conclusion of the review.The news comes after the operator’s Gibraltar licence was suspended yesterday (19 February) evening amid reports that the company is facing serious financial difficulties.Addison Global is though to owe significant sums to multiple affiliate partners, including a sum upwards of £500,000 (€597,000/$645,000) to one. This money has been owed since March 2019, according to sources close to the matter.A legal advisor to the director of Addison Global told iGB that the owners were in contact with all stakeholders and suppliers, working alongside the “former” executive team. “We are also liaising regularly with the UK and Gibraltar regulators,” the advisor explained. “In light of license suspensions, we are no longer taking bets, registrations or deposits, however, players can of course withdraw funds.”The advisor promised to provide further updates, promising that the matters in hand would be handled “in an orderly and correct manner by the entire team”.last_img read more

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