What Happens to Winnings?
Nektan, a dominant name in the online bingo and casino sector, has had its remote operating license temporarily suspended by the UK Gambling Commission (UKGC). The British-facing B2C arm of the company, which was sold to administrators back in 2020, powers big names such as Cloud Casino and Jackpot Mobile Casino – and up until this week, they were popular among the bingo dabbing and slot spinning communities. However, as of April 27th, the operator is no longer able to offer gambling services to players in the UK due to what the UKGC deems as a breach to the conditions of their license.
What does that really mean? According to the report summary, a section 116 review was carried out recently and the outcome of that review revealed “that the licensed activities are being or have been carried on in a manner which is inconsistent with the licensing objectives.” Resulting in an immediate temporary suspension of their license, and it won’t be reissued until the operator can satisfy the Gambling Commission that those unsuitable practices have been resolved.
This means it is illegal for Nektan (Gibraltar) Limited to offer gambling services in the UK and they’re being warned not to use this as a way to hold back on withdrawals! “We have made it clear to the operator that it must communicate effectively with its customers and that the suspension does not prevent it paying out winnings.” The regulatory body is conducting a further review into the licence and will be taking a fine toothcomb and magnifying glass to its practices.
Back in early 2020, Nektan went bust, falling into administration. The UK arm of the B2C was acquired by Grace Media, who are part of the Active Win Group. Clients currently include Bucky Bingo and Betfred, and some of you may have had an email in the last few days about changes to t’s & c’s. Did the breaches in the license agreement happen prior to the collapse or under the new ownership? The UKGC did not specify. But what we do know is they have to improve dramatically or that license will
Real Time Strategic Marketing Limited acquired the B2B arm and rebranded as Markor Technology.
Source: “Interim Suspension of Operating Licence – Nektan (Gibraltar) Limited”. Gambling Commission. April 29, 2020.
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lollipops321 05/01/21, 10:05:53 PM
It would be interesting to see what those breaches were! They don’t specify but they have to be pretty bad to get an instant suspension.