Compliance Updates
Gibraltar’s GLA Suspends Operating Licence of Addison Global
Gibraltar’s Gambling Licensing Authority (GLA) has suspended the operating licence of Addison Global, which operates under the brand name MoPlay.
The move follows advice from the Gambling Commissioner, who according to a Government press statement, has been working with company executives on restructuring proposals put forward by the shareholder of the company, who gave assurances that the intention was to support the business and its further development at all times.
A government statement concluded that these proposals, which included honouring all outstanding liabilities, did not materialise and the Gambling Commissioner was no longer able to accept that the firm is able to meet its licensing conditions.
The Government said the move to suspend the relevant licences has been made to protect consumers from any further detriment. The statement adds the Directors will have to address the solvency issues.
