Industry News
Addison Global’s MoPlay Declares Insolvency and Stops Withdrawals from Customers
Addison Global’s MoPlay brand, which had its licence suspended by the regulators, has announced that the company is now insolvent and has stopped withdrawals from customers.
The operator was suspended after the UK Gambling Commission explained in a statement that it suspected “that Addison Global Limited has breached a condition of the licence (section 120(1)(b) and is unsuitable to carry on the licenced activities (section 120(1)(d) of the Act).”
A message on the MoPlay website said: “Due to financial difficulties, we are unable to process withdrawals. We draw your attention to clause 9 of our terms and conditions which refers to the status of funds in the event of insolvency.”
Clause 9 of MoPlay’s terms and conditions added: “Funds will be held separate from company funds in a mixture of bank accounts and reserve funds which we hold with our payment processors. However, if there was ever a situation where we became insolvent, your funds would not be considered separate to the other company assets and you may not receive all your funds back.”
