BGO, Power Spins, Vegas Luck and Chilli casinos are closing shortly after UKGC license suspension.
BGO Entertainment is leaving the gambling industry after conducting services for almost 10 years. Following an extensive investigation by the UK Gambling Commission revealing major failings in key objectives of the license agreement, the company had its UK online casino license revoked on October 22nd, 2021. They will also surrender their Alderney license, which was suspended on November 30 2021, by the end of this year.
The British regulator carried out a detailed review under Section 116 of the 2005 Gambling Act caused by serious doubts that the company is able to maintain gaming services according to the jurisdiction's requirements which led to their license suspension on October 15th, 2021. While the institution restrains from disclosing further information on the exact argumentation that provoked the enforcement, the official release published on their website states that “failing to protect consumers was a key consideration in the suspension decision”.
This is not the first time BGO Entertainment's lack of competence draws the UK Gambling Commission's attention. Between September 25th, 2018, and March 23rd, 2020, the company was found to have failed in its Responsible gaming policies expertise. The Commission also detected a serious deficiency in anti-money laundering controls between September 25th, 2018, and July 21st, 2020. These drawbacks cost BGO Entertainment £2m in fines toward the UKGC's National Strategy to Reduce Gambling Harms, plus £31k to cover the review costs. The company also had to revise and improve its risk assessment procedures and scrutinize its top 250 high depositors.
The Gibraltar-based online betting and gaming operator owns several platforms, including Bgo.com, Powerspins.com, Vegasluck.com, and Chilli.com. Following the Commissioner's protocol, an official statement regarding the permission surrender is published on all their sites. New registrations, deposits, and gameplay are forbidden, but existing players can withdraw all available funds to a payment method of their choice by logging in to their accounts.
BGO also informed their partners that the company had to migrate to a new bank account, which has led to some issues with the affiliate payments' processing. Still, they assured everyone involved that the commissions will be paid at the earliest opportunity.
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