UKGC Suspends Victoria Gate Casino License Over Anti-Money Laundering Deficiencies
Victoria Gate Casino License Suspended
The operating license of Victoria Gate Casino in Leeds has been suspended due to serious shortcomings in its anti-money laundering (AML) and counter-terrorist financing controls. This suspension impacts VGC Leeds Limited and is enforced under section 116 of the Gambling Act 2005.
Context of the Suspension
The closure, effective from Friday, October 31, follows a detailed compliance investigation by the UK Gambling Commission. The investigation uncovered multiple significant failings in how the casino managed its AML and counter-terrorism policies and procedures.
Official Notice and Customer Communication
A notice displayed at the venue confirmed the temporary closure and expressed the operator’s intention to reopen as soon as possible. The announcement assured customers that the casino hopes to welcome them back soon, emphasizing the temporary nature of the suspension.
Findings from the UK Gambling Commission
The regulatory body highlighted serious concerns about the casino’s governance and risk management frameworks. It particularly noted that decision-making processes were inadequate, and responses to identified money laundering and terrorist financing risks were insufficient. These deficiencies pose a considerable risk to the licensing objectives, especially the prevention of crime within the gambling industry.
Expectations During Suspension
While the casino’s license remains suspended, the Gambling Commission insists that the operator must treat customers fairly and keep them informed about any developments. The commission will continue its investigation to decide on subsequent actions regarding Victoria Gate Casino.
Related Regulatory Actions
The suspension of Victoria Gate Casino follows a similar action taken against another operator, Spribe OÜ, which faced suspension over non-compliance with hosting requirements. Both operators have acknowledged the suspensions and are working to address the issues raised by regulators.
Status and Next Steps
Victoria Gate Casino remains closed while the review is ongoing. Customers are advised to stay tuned for updates and further information from the commission and the casino operator.
