UKGC Suspends Goldchip Limited’s License

Goldchip Limited has had its license suspended by the UK Gambling Commission (UKGC) pending a review of the operator.

According to the UKGC, the review and subsequent suspension are due to worries that Goldchip has carried out activities contrary to the Gambling Act 2005. While the Commission has not provided any specific details of these activities, it did state that it suspects failings in social responsibility and anti-money laundering practices.

Therefore, the Commission believes that the company, which operates Goldchip.com, may not be suitable to run licensed operations in the UK.

The review is being carried out in accordance with Section 116 of the Gambling Act, and the suspension is in line with Section 118 (2) of the Act, which states that the UKGC may suspend a license while it carries out 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 suspension does not prevent the operator from allowing consumers to access their accounts and withdrawing funds.

UKGC Statement

The suspension comes into immediate effect, and it comes just a day after the UKGC ordered two white label providers to pay a total of £675,000 for anti-money laundering and social responsibility failings.

Jumpman Gaming, the operator of 243 websites, has been ordered to pay £500,000, and Progress Play, which operates 201 websites, must pay £175,718. The money will go to the National Strategy to Reduce Gambling Harms.

Furthermore, Jumpman Gaming will pay £13,594, and Progress Play will pay £12,466 for the Commission’s investigation costs.

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