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Monday
May242010

Gameaccount Global Limited has Online Gaming Licence Suspended

The Gambling Act is a complicated and necessarily complex one to allow the UK Gambling Commission to licence only those businesses who meet with all aspects of the act.

I noticed recently that Gameaccount Global Limited has had part of their licence suspended – namely the part which is connected with them running remote operations online.  No other information was given at the time the licence was suspended, other than to say the review was occurring according to section 116 of the Act.  The licence is understood to have been suspended while this review takes place, which means it could be reinstated once the review has been completed.

There are a number of reasons why this situation could occur.  One of them concerns the fact that when the Act is changed or altered in any way, the licence holder needs to return the licence so that it may be amended.  There is no suggestion so far as I can see that Gameaccount Global Limited has deliberately been in contravention of the rules where the Gambling Act is concerned.  It could merely be an oversight in some way, although I am speculating here and we shall not know until the answer is revealed.

Online gambling is a fertile area for many businesses, including those who operate real life casinos and gambling arenas.  Some have made a successful move online but as this example shows there is still legislation that must be complied with in order to succeed.

You should always take proper professional advice if you are considering moving into this area of business yourself.  But with that said if you have any financial considerations or questions that need answering, you may contact St Matthew to get the answers whenever you like.

 



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