Addison Global has had its licence suspended by the UK Gambling Commission (UKGC), following condition breaches.
This follows on from yesterday’s news, when the company had its Gibraltar permit revoked by the Gibraltar Gambling Licensing Authority (GGLA).
Double the breach
The UKGC has determined ‘that Addison Global has breached a condition of the licence (section 120 (1) (b) and is unsuitable to carry on the licensed activities (section 120 (1) (d) of the Act)’.
As a result, moplay.co.uk – which is run by the operator – will be banned from offering its services to UK players. However, it can still return players’ outstanding balances to them.
In an official statement, the UKGC said the below.
“In accordance with section 118 (4) (c) of the Act, the Licensee is authorised to settle any outstanding winning bets that it has accepted – in reliance of the above operating licences and return any outstanding balances to customers.
“We have informed Addison Global Limited that we expect clear messaging to consumers regarding their accounts.”
Gibraltar suspension and financial woes
Yesterday, Addison Global was also suspended by regulators in Gibraltar. According to reports, the operator is in the midst of financial difficulties.
The GGLA said that the reason behind the suspension was due to Addison Global not being able to pay outstanding debts. A new injection of funding was attempted, but nothing came to fruition.
The regulator released a statement after suspending the licence of Addison Global, which was founded in 2017. Andrew Lyman, Gambling Commissioner, said the below.
“It is most disappointing that the promised financial support from the shareholder has failed to materialise, as the firm has not received the financial support it was projected to receive when first licensed.
“Whilst the directors will have to address the solvency issues, a decision has been made to suspend the relevant licences to protect consumers from any further detriment.”
Since having its licenses suspended, Addison Global currently doesn’t have a Management team – following a series of resignations.
