Tag Archives: Financial Conduct Authority (FCA)

888 pursues shareholder approval to create ‘global gaming leader’

888 Holdings has issued an update on the progress of its acquisition of William Hill in a prospectus on the development, detailing the timetable and risk factors involved.  Approved by the Financial Conduct Authority (FCA), the prospectus explained that the international gambling group will hold an Extraordinary General Meeting on 16 May to seek approval from its shareholders. Although the …

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Xace bolsters payment network with SWIFT and ABA addition

Xace has announced an expansion of its global payments service boosting network as well as incorporating new multi-currency IBANs into its product line.  The gaming payment provider’s network now includes the SWIFT international network and the US-facing ABA, as it seeks to strengthen its ability to process cross-border transactions for its igaming clients.  As a result, the firm has bolstered …

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888 secures regulatory clearances to move ahead with William Hill takeover

888 Holdings has confirmed that it has moved closer to completing its full acquisition of William Hill’s international non-US assets, predicting closure of the acquisition in Q1 2022. In an update this morning, the FTSE250 gambling group confirmed that it has secured mandatory antitrust and pre-completion gaming regulatory clearances, paving the way for finalisation of the takeover. Confirmed on 9 …

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UKGC highlights lack of ‘means to replace funds’ as reason behind Football Index downfall

Andrew Rhodes, Interim CEO of the UK Gambling Commission (UKGC), has issued a full response to a number of questions asked of the regulator by former customers of football player exchange platform Football Index. Following the collapse of the operator, and its parent company BetIndex, a number of criticisms of the UKGC’s regulatory oversight were raised – although the Commission …

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UKGC alters digital oversight following Football Index investigation

In response to an investigation into the collapse of BetIndex, the UK Gambling Commission (UKGC) has announced that it will make changes to its regulatory oversight of digital gambling products. The Independent Review highlighted a number of areas for improvement from both the UKGC and the Financial Conduct Authority (FCA). In response to the review’s recommendations, the UKGC has introduced …

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DCMS urged to take immediate action on Football Index collapse

MPs from the All-Party Parliamentary Group for Gambling Related Harm (GRH APPG) have directed further criticism at the UK Gambling Commission (UKGC) regarding the collapse of betting exchange Football Index. Writing a letter to Culture Secretary Oliver Dowden, the group of legislators described the demise of the operator and the losses its customers suffered as a ‘scandal,’ and have cited …

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