MoPlay Ceases British Operations After UKGC License Suspension
Online casino and sportsbook operator MoPlay has stopped all gambling activity in the UK after parent company Addison Global had its gambling licence suspended by the UK Gambling Commission.
The Commission confirmed the action on their website stating that under section 120 of the 2005 UK Gambling Act an interim suspension on Addison Global was in place with the Commission acting on suspicion that the operator had breached licencing rules.
Without a valid licence, it is illegal for Addison to provide gambling services via MoPlay.com or any other website. Initially, visits to the website stated that the company “are currently only processing withdrawals. All other functions are currently suspended.”
However, this message has now changed to “please note that MoPlay cannot take any further bets or accept any other gambling activity. If customers have any queries, please contact our Solutions team via email”.
The Gambling Commissions decision to suspend their UK licence came a day after Gibraltarian regulatory officials took action against Addison Global, withdrawing four Gibraltar licences after the company was unable to comply with rules surrounding sufficient investment support. The Gambling Commission on its website said that it understood the company is experiencing financial difficulties and is currently unable to process withdrawals.
The Commission recommends that customers visit MoPlay’s terms and conditions for further information, but at the time of writing, the terms and conditions have been removed with a redirect in place to the home screen.
It has not been revealed how many customers are affected and the amount of money involved. Addison Global’s corporate website doesn’t contain any information or update on the problems they are experiencing.
Another company that has had its licence suspended is Triplebet Limited. Owners of the Matchbook online sports betting exchange, the Gambling Commission suspended the company’s operations after it cast doubt on the “operator’s ability to offer remote facilities for pool betting, betting intermediary and to operate a remote casino”. The suspension is immediate, and Triplebet has been instructed to settle any open positions on bets that were placed before the ban came into place.
News of the two financially motivated suspensions come at a time when regulatory pressures and poor margins, especially for sportsbook operators, are causing sharp drops in profit margins. A reduction in revenues is compounding the problem with many operators relying on emerging markets such as America and Eastern Europe to subsidise challenging Western Europe and Nordic regions.
Kindred Group were hit hard by French tax hikes and posted Q4 results that showed an EBITDA figure of £30.7m, which represents a 48% drop from the 2018 figure of £58.8m. Betsson was another operator feeling the pinch; their casino vertical was the hardest hit, revenues of £77m were 10% lower than last year’s results and revenues of £103m (SEK1,289.5m) equate to a 10% year-on-year decline.