The review and consequent suspension, the Commission said, is because of concerns that Goldchip may have carried out activities contrary to the Gambling Act 2005.
The Commission did not disclose the specific details of these activities, but it did state that suspected social responsibility and anti-money laundering failings were key considerations in the suspension decision.
As such, the Commission said these activities mean Goldchip, which operates Goldchip.com, may be unsuitable to carry on licensed operations in Great Britain.
The review will be carried out in accordance with Section 116 of the Gambling Act, while the suspension is in line with Section 118 (2) of the Act, which says that the Commission may suspend a licence while it conducts a review under section 116.
“We have made it clear to the operator that during the course of the suspension, we expect it to focus on treating consumers fairly and keeping them fully informed of any developments which impact them,” the Commission said.
“The suspension does not prevent the operator from allowing consumers to access their accounts and withdrawing funds”
The suspension comes into immediate effect.
The ruling comes just a day after Commission also ordered two white label providers to pay settlements totalling £675,000 for anti-money laundering and social responsibility failings.
Jumpman Gaming, which operates 243 websites, and Progress Play, which runs 201, have been ordered to pay £500,000 and £175,718 respectively, in lieu of financial penalties.
Both sums will be directed to the National Strategy to Reduce Gambling Harms.
In addition, Jumpman Gaming will pay £13,594 and Progress Play £12,466 towards the Commission’s investigations costs.
Original article: https://igamingbusiness.com/gambling-commission-suspends-goldchips-licence/
