MaxEnt to withdraw from UK market over Brexit
Malta-based Slotty Vegas operator Max Entertainment (MaxEnt) has opted to withdraw from the UK market, citing the UK’s forthcoming departure from the European Union as the reason.
In a release dated 30 December, the operator announced that UK customers will no longer be able to register with MaxEnt with immediate effect but the site will remain open for a “short period” so that existing customers may withdraw money.
The operator said that it made the decision following the December 2019 UK general election, in which the Conservative Party won a significant majority of seats. MaxEnt said that, as this made Brexit a “practical certainty,” it was no longer worthwhile to be active in the UK market.
"We take this decision with a heavy heart," said Greg Bennett, chief executive of MaxEnt, said. "We've been watching the market for some time, and the looming threat of Brexit has been a source of concern for us. Now that the Conservative Party have won and can push it through, we feel that we are better focusing on well-regulated European markets."
The operator’s licence was revoked by the British Gambling Commission in June following a change in ownership, due to concerns about the source of funds used for the deal and question marks over its new ownership. The decision to withdraw from the market means that MaxEnt will no longer contest this decision as it had originally intended.
MaxEnt said it was “not ruling out the possibility of returning to the UK in the future,” but in the shorter-term its focus would be on the rest of Europe as many countries adopt the local-licencing model.
The operator said it expects to receive its Swedish licence early this month and will look at applying for a Dutch licence when its market opened.
MaxEnt also announced that it has launched a new no-registration plan, GoSlotty, to be launched in Germany and Finland this month.