The regulatory action affected Dalmine Limited and King Gaming, two companies that are currently under investigation
The independent statutory body established to govern all gambling activities on the Isle of Man and recognizable iGaming regulator, the Isle of Man Gambling Supervision Commission (GSC), announced tough regulatory actions against two companies that held a license in the country.
On Wednesday, the gambling watchdog confirmed the cancellation of the license for King Gaming Limited, as well as Dalmine Limited. In two separate statements, the GSC announced the cancellation of each of the licenses.
Per the gambling watchdog, the tough sanction is in line with section 5(2) of the Gambling Supervision Act 2010. Both Dalmine and King Gaming are subject to an investigation that dates back to this spring.
King Gaming was awarded a gambling license by the GSC back on June 13, 2017. However, amid an investigation into the company’s operations which was announced on April 24, King Gaming’s license was initially suspended.
Although King Gaming has grown in popularity since it secured a license, the latest regulatory hiccup puts the operator in a difficult position. Previously, the company started the construction of headquarters on the Isle of Man, a project valued at tens of millions of dollars. However, the future of King Gaming’s new headquarters now looks uncertain in light of its license cancellation and investigation.
“The Commission considers that it is in the public interest to issue this statement to advise stakeholders that further to section 13 of OGRA, the Commission canceled King Gaming Limited’s license on 24th July 2024. This decision has immediate effect,“ reads a statement released by the Isle of Man Gambling Supervision Commission
Similar to the announcement about the cancelation of King Gaming’s license, as noted, the GSC canceled Dalmine’s license too. Just like in the previous case, the license was canceled with immediate effect while the gambling watchdog said that its decision was in line with the Gambling Supervision Act’s section 5(2).
The Commission confirmed that in the case of Dalmine and King Gaming, it will continue to collaborate with law enforcement agencies. The regulator refrained from disclosing further details regarding either of the cases, citing the ongoing investigations.
