The UK gambling regulator has revoked the license of Slotty Vegas due to concerns about the sources of funds for the recent acquisition of the company.
On Tuesday, the British Gambling Commission announced its decision to revoke the license to operate Slotty Vegas recently, citing concerns over the finances of the online casino operator and information it provided to the regulator.
The decision of the Gambling Commission comes into force on June 18. From this date MaxEnt will no longer be allowed to operate in the UK regulated gambling market. In a statement released on June 4, the regulator said:
We expect the operator to interact promptly with its UK customers and provide them with relevant information about leaving the local market.
The UK Gambling Commission indicated that the decision to revoke MaxEnt’s license was prompted by a recent change in ownership of the company.
The regulator said:
Following a hearing before the Regulatory Commission, we decided to revoke the operating license in accordance with section 102 (4) (b) of the 2005 Gambling Act.
UK gambling law requires that when corporate control changes, companies licensed by the Gambling Commission must either surrender or apply for a license under new ownership.
In addition, if a person becomes a controller of a gambling company, the license application must be accompanied by information about the new owner and his interest in the company.
The regulator also explained:
We are not satisfied with the source of funds to acquire and support the licensee during and after the corporate control change.
The Gambling Commission also said it had raised concerns about the suitability of the new MaxEnt controller and that it provided conflicting information and failed to be frank in its dealings with the regulator.
MaxEnt operates the online casino brands Slotty Vegas and BETAT Casino. The company is headquartered in Malta and, apart from the revoked license from the British Gambling Commission, the company’s casinos operate under a license from the Malta Gambling Authority.
Slotty Vegas Update
The leading casino operator Slotty Vegas has recently been updated. The company overhauled the casino operations and made the necessary improvements last year. The project took up most of the third and fourth quarters of 2018. The launch of the Slotty Vegas update represents the first phase of the improvement process. The changes included:
- new color scheme;
- more convenient navigation;
- expanded portfolio of games;
- adding payment options.