Maxent to launch appeal against UKGC licence revocation
Operator expresses disappointment at lack of UKGC “objectivity” in hearing
Maxent Limited will launch an appeal against the UK Gambling Commission’s decision to revoke its UK licence, EGR can reveal.
Earlier this week, the UKGC said it was stripping Maxent’s licence over concerns about the operator’s change in ownership last year.
Maxent, formerly known as NRR Entertainment, was acquired by outside investors in July 2017. However change in corporate ownership and change-in-name documentation were not submitted to the Malta Gaming Authority and UKGC until July 2018 due to what the company called a “failing of previous management”.
In May 2018, current Maxent CEO and director Greg Bennett joined the firm and the required documentation was submitted following his appointment.
The UKGC said Tuesday it had not been satisfied as to the source of funds used to acquire and support the business, following a full regulatory panel hearing.
However, following the announcement, Maxent said it would appeal the decision, branding the UKGC’s comments as “misleading”.
The firm said in a statement: “The Commission’s issues with the [financial] controller are not connected with the way the business is run or with how customers are treated, but solely with availability of documentary evidence from two years ago.
“We feel that the Commission’s decision is not sufficiently objective, hence why we are appealing. We do not intend to leave the UK market at this time.”
The operator noted the UKGC’s comments during the panel review suggested that were Max Entertainment to apply for a licence today, it would be granted.
Maxent CEO Greg Bennett added: “If you look back at other revocations, suspensions and warnings issued by the Commission it’s clear that what they’re saying we’ve done wrong has not been a revocation offence in the past. If they’re trying to be firmer and ensure fair play across the industry then we very much support that – but it’s hard to see that they’re doing the right thing in this case.”
The company said it is “carefully considering” its position in the UK market and would not rule out targeting other regulated jurisdictions.