Gambling regulators in both Gibraltar and the UK have suspended the operating licenses of Addison Global Ltd, the parent company behind online gambling operator Moplay.
On Thursday, Gibraltar’s Gambling Licensing Authority (GLA) announced the suspension of Addison Global’s operating licenses, citing advice from Gibraltar’s Gambling Commissioner. That advice came after the Commissioner concluded that the firm lacked the necessary financial support to meet its licensing conditions.
The statement indicated that regulators had been working with company execs on “restructuring proposals put forward by the shareholder” of Addison Global. Despite assurances of “honoring all outstanding liabilities,” the shareholder’s promised financial support “has failed to materialize,” leaving the regulator with no choice but to suspend the licenses “to protect consumers from any further detriment.”
Shortly thereafter, the UK Gambling Commission (UKGC) issued a statement announcing the “interim suspension” of Addison Global’s license with immediate effect pending the conclusion of a review of the company’s UKGC’s license. The UKGC said it suspected that the company had breached a condition of its license that may render the company unsuitable to carry on its licensed activities.
The UKGC noted that the suspension didn’t prevent Addison Global from returning any outstanding balances to customers or settle any outstanding winning bets. The UKGC said it had informed the company that it expects “clear messaging to consumers regarding their accounts.”
Moplay’s various websites currently display a notice saying the site “cannot take any further bets or accept any other gambling activity.” Customers are advised to contact the site’s support email with any queries. However, the Mexico-facing Moplay.mx site, which launched late last year, currently states only that it is “having some troubles with the site right now” and that its “tech team is working hard to resolve the matter.”
Thursday’s news came just days after the UKGC “temporarily” suspended the license of the Matchbook betting exchange following an audit that led Matchbook’s parent Triblebet Ltd to conduct an independent review of its internal controls.