Videoslots Limtied has been ordered to pay £2 million after the UK Gambling Commission flagged social responsibility and anti-money laundering failures during an investigation that took place in February 2022.

The online casino operator was founded in 2011 and is headquartered in Malta. It is licensed by the Malta Gaming Authority, Swedish Gambling Authority, the UK Gambling Commission, the Danish Gambling Authority and the Italian Gambling Authority. It runs videoslots.com, videoslots.co.uk and mrvegas.com.

The UK Gambling Commission said the operator will pay the sum as part of a settlement with the authority. It also highlighted the following shortcomings:

Social responsibility failures included:

  • Not ensuring that customers displaying risk behaviours were identified as potentially experiencing harm because responsible gambling reviews were not undertaken as early, or as well, as they should have been.
  • Failing to identify whether a customer was at risk of experiencing harm by not considering whether the amount being deposited or lost was appropriate.
  • Allowing customers showing indicators of harm to continue to gamble significant amounts after interactions despite their behaviour continuing.


Anti-Money Laundering (AML) failures included:

  • Not implementing its own risk-based processes appropriately due to significant delays in conducting the required action, such as an AML review or request for source of funds following a trigger in its processes.
  • Not fulfilling elements of customer due diligence as early as intended in accordance with its own risk-based approach.
  • Not having sufficient AML analysts to process the volumes of data or undertake the AML account reviews in accordance with its procedures.


Lastly, the UK Gambling Commission said that the entire settlement paid by Videoslots will go to socially responsible causes.

Continue Reading

Gammix Limited slams ‘outrageous and unsubstantiated’ €19.7m KSA penalty

1 March 2024
by iGamingCapital.mt

'The KSA has imposed upon our company a penalty that is both outrageous and unsubstantiated'

IZI Finance generates a pre-tax profit of €323,142 during the final six months of 2023

29 February 2024
by iGamingCapital.mt

An upturn in revenue largely came from operating Malta's National Lottery

EGBA welcomes confirmation of Frankfurt as seat of new EU anti-money laundering authority

28 February 2024
by iGamingCapital.mt

AMLA, which will commence operations in mid-2025 with over 400 staff members, will possess both direct and indirect supervisory powers over obligated entities, including the EU’s biggest financial institutions

‘People who fix things and those with a vision – that’s the fire I’m looking for’

27 February 2024
by Ramona Depares

VentureMax CEO Justin Anastasi reveals bold plans to support innovative tech projects in 2024

See more