GC follows Gibraltar regulator in suspending Addison licence
The British Gambling Commission has followed its Gibraltarian counterpart in suspending the licence of Addison Global, which operates sports betting site MoPlay, as it conducts a review of the operator.
The British review is being carried out under Section 120(1)(b) of the Gambling Act, which allows the Commission to suspend or revoke a licence if it believes an operator is "unsuitable to carry on the licensed activities".
Addison's remote operating licence will therefore remain suspended until the conclusion of the review.
The news comes after the operator’s Gibraltar licence was suspended yesterday (19 February) evening amid reports that the company is facing serious financial difficulties.
Addison Global is though to owe significant sums to multiple affiliate partners, including a sum upwards of £500,000 (€597,000/$645,000) to one. This money has been owed since March 2019, according to sources close to the matter.
A legal advisor to the director of Addison Global told iGB that the owners were in contact with all stakeholders and suppliers, working alongside the "former" executive team.
"We are also liaising regularly with the UK and Gibraltar regulators," the advisor explained. "In light of license suspensions, we are no longer taking bets, registrations or deposits, however, players can of course withdraw funds."
The advisor promised to provide further updates, promising that the matters in hand would be handled "in an orderly and correct manner by the entire team".