Genesis Global hit with UK licence suspension

The UK Gambling Commission (UKGC) has suspended the online operating licence of Genesis Global Limited pending a full review of the firm’s compliance practices.

The UKGC confirmed the suspension is “due to a number of compliance issues” but declined to comment further pending completion of the review. The licence suspension is with immediate effect under the UKGC’s powers relating to section 116 of the 2005 Gambling Act.

“We have instructed the operator to facilitate customers accessing their accounts to withdraw funds and advise customers not to place any bets through the above websites,” the UKGC said.

However, EGR can confirm the sites are still accepting UK players.

Malta-based Genesis Global Limited operates 12 UK-facing brands including genesiscasino, casinoplanet, slotty and vegashero.com. The firm is licensed for sports betting and online casino in the UK but also has licences in Sweden and Malta.

A licence suspension can be given if the commission “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”.

Genesis Global Limited has been the subject of regulatory action twice before in Sweden, with the Swedish Gambling Authority (SGA) issuing separate fines against the firm for breaches of bonus and self-exclusion rules.

However, on both occasions, the firm has successfully appealed to have fines reduced in the Swedish courts.

Genesis Global received a SEK4m (£330,000) fine in March for failing to connect to the Spelpaus self-exclusion database for eight days in January 2019, but this was later reduced to a fine of just SEK1.5m in December 2019 after a lengthy appeal.

Last month, a court in Sweden reduced Genesis Global’s SEK1.7m fine for offering bonuses to VIP’s to SEK1.4m following the operators appeal against the SGA’s decision.

Genesis Global has not yet responded to a request for comment.