MaxEnt Ltd, an online gambling company, has pulled its brands from the UK market, citing as a reason “recent political events.”
Over the holidays, Max Entertainment, based in Malta, revealed that it had “taken the decision to close its operations towards the UK market for strategic business reasons.” The company said Slotty Vegas and its BETAT Casino brand would suspend game play on January 2, while customers would have to remove their online casino accounts before March 31.
Last June, the UK Gambling Commission (UKGC) revoked MaxEnt’s UK licence after “identification of concerns relating to the operator’s finances and information supplied” to the UKGC about the ownership structure of the company. Two weeks later, after MaxEnt appealed the decision of the regulator, the revocation was held.
MaxEnt’s statement expressed regret at its decision to leave the UK market after six years of operation, but said it was the right step because of ‘the uncertainty that this market currently holds for us, particularly due to recent political events.’ These political events include the Tories’ convincing victory in the UK’s recent general election and announcement of the UK’s’ Brexit ‘ from the Euro The Tories have vowed to carry out a study of the 2005 Gaming Act with a potential ban on the use of credit cards among the items under consideration for online gambling.
MaxEnt stated that it did not rule out the possibility of a UK market return “after Brexit and the market is settled,” but the company would now consider “promising developments in other markets around the world,” with a particular focus on “other well-regulated European markets.”
Greg Bennett, CEO of MaxEnt, added that his company expects to receive its Swedish licence this month and that MaxEnt will also aim to operate in the Netherlands at the start of its controlled online market in mid-2021.