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:
Anti-Money Laundering (AML) failures included:
Lastly, the UK Gambling Commission said that the entire settlement paid by Videoslots will go to socially responsible causes.
The nation’s unique mix of solid regulations and exciting gambling opportunities makes it a perfect location for casino enthusiasts and operators
Embracing the start-up journey means playing the long game, investing now for substantial future gains in your career and professional fulfilment
Today, an estimated 10% of the world’s online gambling companies are based in Malta
MGM issues its Q1 financial and operational update