Date published: 21.07.2020
UKGC suspends Genesis Global Ltd Remote Gambling License
Yesterday, the UKGC suspended the remote gaming license ↱ from the iGaming company Genesis Global Ltd (registered in Malta), who operate a number of online casinos with a strong presence on the UK market.
The license suspension became effective on the 20th of July 2020, and casino brand from Genesis Global Ltd are no longer permitted to accept UK players, new and existing, to play on their sites.
Update 23rd July: Genesis Global Ltd announced that they will appeal the decision of the UKGC to suspend their license, with the comment that the suspension is inconsistent and disproportionate. The company has undergone previous audits without findings. Genesis Global is cooperating with the auditor to resolve the suspension as soon as possible.
Review of conduct commenced
The UK Gambling Commission didn't disclose the potential breaches of licensing regulations of Genesis Global Ltd, but they referred to section 116(2)(a) of the Gambling Act 2005, which allows them to suspend a license and commence a review upon suspicion of breaches.
Section 116 (2)(a):(2) The Commission may review any matter connected with the provision of facilities for gambling as authorised by an operating licence if the Commission (a) has reason to suspect that activities may have been carried on in purported reliance on the licence but not in accordance with a condition of the licence
What happens to UK players and their funds now?
Genesis Global Ltd. has taken action and informed all their players online and via email about the license suspension and directed them to withdraw their funds from their player accounts.
Players from the UK are not permitted anymore to register and play at any of the casinos from Genesis Global Ltd, but existing players can still log in and withdraw their funds from the cash balance, subject to regular KYC checks.
What about other countries?
The license suspension only affects players from the UK, not other countries. Genesis Global Ltd. is also licensed by the Malta Gaming Authority and the Spelinspektionen from Sweden, and all other players can continue playing casino games as usual.
Other operators under review
Genesis Global Ltd are not the only ones currently under review for possible breaches of the regulations. The UKGC has recently put a few other operators under review as well, and suspended their licenses, including Stakers Ltd in March 2020 and FSB Technology Ltd in August 2019.
How long the review will take, and what the outcome will be, is unclear, but we'll keep you informed.