UKGC suspends Nektan’s operating licence

Simona Boshkova | Published 4 May 2021, 9:46 a.m.

The UK Gambling Commission (UKGC) is responsible for regulating gambling in Great Britain. It has taken several initiatives to maintain a safe gambling environment in the country. As a result, the regulator has fined many operators that failed to comply with its requirements.

For example, the UKGC fined InTouch Games for compliance failings. The operator was fined £3.4m for money laundering, social responsibility and marketing breaches. Moreover, five land-based casinos have been fined by the UKGC for social responsibility and money laundering failures.

As part of its ongoing player protection process, the UKGC launched a new three-year Corporate Strategy and annual Business Plan that set out the Commission’s focus to protect the public and players from gambling harm.

One of the recent measures that UKGC took is the suspension of Nektan’s operating licence. According to the regulator, Nektan had breached the conditions of its licence and it’s not suitable to carry on its activities.

The suspension is interim with immediate effect

The UK Gambling Commission has decided to suspend the operating licence of Nektan, an established software provider that offers games for mobile casino and bingo markets. Nektan has been suspended through section 118( 2) of the Gambling Act 2005. In addition, the regulator announced that the suspension will follow an ongoing section 116 review.

As the Commission stated, Nektan has breached the conditions of its licence. For that reason, the regulator felt that Nektan is unsuitable to carry on its licenced activities. It was esteemed that Nektan was operating in an inconsistent manner with the licensing objectives.

That being the case, Nektan has had its licence suspended with immediate effect until the UKGC completes its review. The regulator also mentioned that the suspension could be lifted if it felt that Nektan operates compliantly.

The suspension of Nektan’s licence is effective from 27 April 2021 and now it’s illegal for Nektan to offer gambling services via its websites which are listed on the Commission’s public register. As part of the press release, the Commission said that Nektan must communicate effectively with its customers and that the suspension does not prevent it from paying out winnings.

It’s not clear how long will Nektan’s review take place, but the Gambling Commission said it will not comment any further whilst the investigation is ongoing.

Nektan has been previously suspended

It’s not the first time for Nektan to receive some type of suspension. Just last year, Nektan had its shares suspended as it failed to publish its audited annual report and accounts for the previous year. Then, the company was removed from the London Stock Exchange because it didn’t appoint a new nominated advisor.

Still, Nektan is a popular software provider specializing in mobile gaming content. It is based in Gibraltar but has offices in London and Las Vegas. At the beginning of 2020, Nektan sold its Grace Media subsidiary. The operator made various high-quality products and concluded deals with major operators to provide innovative solutions on the gaming market.

It’s up to see when and how will Nektan improve its operating activities so it loses its suspension and continues producing quality products.