Gambling licence suspended

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 Thursday, February 20, 2020 - 11:12

The Gambling Licensing Authority, on advice from the Gambling Commissioner, has suspended the gambling operating licences of Addison Global trading under the brand name Moplay, said a Government statement.

It adds: The Gambling Commissioner has been working with Company executives on restructuring proposals put forward by the shareholder of the Company, who at all times have assured the Gambling Commissioner and Government of their intention to support the business and its further development. These proposals, which included honouring all outstanding liabilities, have not materialised and the Gambling Commissioner is no longer able to accept that the firm is able to meet its licensing conditions.

"It is most disappointing that the promised financial support from the shareholder has failed to materialise as the firm has not received the financial support it was projected to receive when first licensed. Whilst the Directors will have to address the solvency issues, a decision has been made to suspend the relevant licences to protect consumers from any further detriment," said the statement.

20-02-2020 PANORAMAdailyGIBRALTAR