Tag Archives: isle of man

Isle of Man operator handed £3.9m penalty amid rising AML concerns

isle of man flag with coins on a map

Amid growing money-laundering concerns in the Isle of Man, the owner of the SBOTOP online sportsbook, Celton Manx, has been handed a £3,937,500 penalty from the Isle of Man Gambling Supervision Commission (GSC). The company lacked evidence of proper risk assessments, ongoing customer monitoring, enhanced due diligence, and sufficient identity verification procedures. The investigation also found that it lacked in …

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UKGC monitors TGP Europe shut down of Stake UK

SBC News UKGC monitors TGP Europe shut down of Stake UK

The UK Gambling Commission (UKGC) has issued a warning to consumers that the UK subsidiary of Stake will no longer be licensed from next month. This development follows a notification received by the Commission from TGP Europe, the white-label partner that holds Stake’s UK licence, stating that it will be shutting down Stake.uk.com. The licence of Stake UK had been …

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Crucial Compliance opens up Isle of Man hub

SBC News Crucial Compliance opens up Isle of Man hub

Crucial Compliance has reaffirmed its commitment to “create a safer gambling environment for everyone” by opening a new office in the Isle of Man.  The move is in response to the growing number of betting and gaming companies setting up shop on the island, many of whom are looking to strengthen their existing player protection offering.  Paul Foster, Co-Founder of …

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UKGC fines TGP Europe £320k for AML white-label shortcomings  

Sarah Garnder: UKGC consultation conclusions due this summer

The UK Gambling Commission (UKGC) has this morning charged TGP Europe Limited a penalty totalling £316,250 for failures in anti-money laundering (AML) and social responsibility measures. The Isle of Man-based business, which manages a white-label network of 19 websites, including the sportsbook brands of Fun88, 12Bet, BK8 and Kaiyun, will also receive an official warning and face added conditions to …

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Gambling Harm APPG: Premier League must explain ‘toxic’ TGP presence

SBC News Gambling Harm APPG: Premier League must explain 'toxic' TGP presence

The Premier League has been threatened with an investigation unless club bosses ‘provide satisfactory answers’ as to why clubs have partnered with TGP Europe, an Isle of Man business linked with jailed Macau tycoon Alvin Chau.  Grabbing Asian business headlines last week, Chau – the former CEO of ‘junket operator’ Suncity Group – was sentenced to 18 years in prison …

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BetDEX secures Isle of Man licence as blockchain exchange enters beta mode. 

SBC News BetDEX secures Isle of Man licence as blockchain exchange enters beta mode. 

BetDEX Labs Inc has become the first blockchain betting exchange to be granted a licence by the Isle of Man Gambling Supervision Commission (GSC). The New York and Edinburgh-based operator hailed the GSC licence approval as a new milestone towards launching online gambling’s first blockchain-built mass market betting exchange under the BetDEX domain. BetDEX is the new venture of former …

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Microgaming confirms John Coleman CEO exit to be replaced by Andrew Clucas

SBC News Microgaming confirms John Coleman CEO exit to be replaced by Andrew Clucas

Microgaming has announced a ‘changing of the guard’ as long-term executive John Coleman has chosen to end his tenure as Chief Executive of the online casino games and software supplier.  Coleman will be succeeded by Microgaming Chief Operations Officer (COO) Andrew Clucas who has been elected to serve as inbound CEO. A stalwart of Microgaming’s executive leadership team, Coleman had …

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Luckbox hunts for more talent to deliver on its mass appeal

SBC News Luckbox hunts for more talent to deliver on its mass appeal

Luckbox has expanded its ongoing ‘recruitment drive’ as the esports wagering platform launches new projects to maintain its post-IPO growth phase.  Updating the market, Luckbox said it is seeking to recruit staff immediately for its product design, marketing and customer compliance teams. The company revealed that it was recruiting for the key hires of a product designer, customer onboarding project …

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Quentin Martin: Luckbox calls on a recruitment drive to make noise in 2021

SBC News Quentin Martin: Luckbox calls on a recruitment drive to make noise in 2021

Quentin Martin, Chief Executive of Luckbox, has outlined his firm’s ‘new year resolutions’ as he plans to get the esports wagering platform in tip-top shape for a critical 2021.  Fresh from guiding Luckbox as the first esports wagering platform to list on the Toronto TSX Ventures Exchange (TSXV), Martin reflected on 2020 developments which placed esports firmly on betting’s global …

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