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Business as Usual for UK Gambling Commission
By Shane Addinall Aug 25, 2022 IndustryAlthough the gambling reform hangs in the balance, the UKGC has all hands on deck. Find out more about what the UKGC has planned for the future of gambling in the country.The UK Gambling Commission affirms its worth and shows why it is a global leader in the gambling industry by continuously excelling at its duties. Amidst political uncertainty and economic turmoil, the British inspectorate steadfastly governs its licensees and protects consumers.
A recent report from the regulator reveals key performance areas where some increased revenues and others experienced losses. New providers bring fresh content to British punters, and sanctions on a top operator confirm the inspectorate’s impartial position.
Eyes on the Prize
UK gamblers and operators held their breaths as the government kept promising an imminent whitepaper on the gambling reform. Then, PM Johnson’s resignation made it clear that no changes were coming anytime soon.
The 2-year anticipation and many talks of what changes the reform would bring have not thrown the UKGC off course. In fact, the inspectorate has its sights set on excellence, and anything less must go.
The importance of an independent regulator comes into focus with the peculiar circumstances Britain finds itself in. Despite post-pandemic challenges, the cost-of-living crisis, and a government in limbo, Brits can count on diligent service from the Gambling Commission. Following nearly 12 months as interim CEO, Andrew Rhodes permanently took the reins at the UKGC, and the regulatory body is as solid as ever.
Committed to industry excellence, the commission works tirelessly and holds licensees accountable while ensuring fresh content keeps their citizens entertained and on the right side of the market.
Fresh Gambling Content for Brits
Two of the most recent entrants in the UK market include Stakelogic Live and Spinomenal. Both content developers secured B2B licenses from the Commission. Stakelogic Live presents titles beyond their well-known casino content to rival top live studios from around the world. The provider affirmed how the license from the UKGC proves the high quality of its content.
Stephan van Oetalaar, Stakelogic CEO, said:
“This is a pivotal milestone on our journey to becoming the leading provider of live casino content to operators in regulated markets around the world.”
Another leading content provider, Spinomenal, now has access to licensed operators in the region to deliver its stellar igaming titles to UK players. The approval includes its slot studio, Retro Gaming, which offers unsurpassed online slot games. Olga Sirokha, Spinomenal’s Head of Partnerships, explained how the studio enabled successful licensing in the sought-after jurisdiction.
Revered UKGC
As the gambling regulator of the highly successful British jurisdiction, the UKGC has a mammoth task of ensuring licensees comply with regulatory protocols and provide safe services. To enforce this responsibility, the inspectorate continuously monitors licensed operators on all fronts and takes action where required.
These enforcements are unbiased, as shown by a recent action taken on one of the largest and most respected operators in the gambling industry. Entain was at the receiving end of a record-breaking fine from the British regulator. The UKGC found serious anti-money laundering and responsible gambling failures during an investigation and fined the operator £17 million for the compliance failings in its online and retail business.
Although the operator pointed out that none of the Commission’s discoveries revealed criminal spending, it took responsibility for the failings dating back to 2019 and 2020. The commission placed Entain under additional license conditions for the foreseeable future and warned that further failings can lead to license revocation.
Increased Momentum
The UKGC is on track with its responsibilities to ensure a safe and responsible gambling market in Britain. Gambling compliance experts warn that the inspectorate is taking no prisoners and has increased its investigation actions against those who fail to comply with regulations.
Operators must step up and take responsibility to make the industry better for everyone, and if they are not willing to, the UKGC is there to take care of it.
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