888 Faces United Kingdom License Challenge
One of the market leaders in the global online gaming industry and the company which has been providing quality entertainment to people around the globe – including satisfied Canadian customers – 888 Holdings has enjoyed steady growth in business and reputation since its inception in 1997.
Listed on the London Stock Exchange, the company is facing a United Kingdom challenge as 888 Holdings announce that their UK license is currently being reviewed by the national regulatory body Gambling Commission (UKGC).
The review is said to be related to the manner in which a subsidiary of the company has carried on its licensed activities to ensure compliance with the UKGC operating license held by the licensee, the company revealed in a statement.
The United Kingdom Gambling Commission continues to examine operators, their operational licenses and codes of practice in a spree that most recently resulted in a $286.000 fine issued to BGO entertainment for misleading advertisements.
888’s social responsibility to its customers and effective self-exclusion tools across different operating platforms are also being reviewed.
The company stated it would actively cooperate with the UKGC throughout the review.
“The company is dedicated to providing players with a responsible as well as enjoyable gaming experience and the licensee will be proactively engaged in a cooperative and collaborative manner with the UKGC throughout this review. The company will make a further announcement as and when appropriate.”, 888 announced.
In the meantime, shares in 888 Holdings have been struck by an 8% drop with news of UKGC investigation catching the public eye.
888 Holdings’ UK business – which accounts for around 45% of entire group revenues – includes poker, casino, bingo and sports gambling.
The latest news comes just days after it was announced that 888 Holdings has promoted lead group specialists as the company targets accelerated growth in operations and Zvika Zivlin’s arrival as new Non-Executive Director.