Genesis Global has confirmed its intention to appeal the UK Gambling Commission’s recent interim license suspension, commenting that the regulator’s decision is disproportionate and inconsistent.
Issuing a statement regarding the company’s position on the matter, Genesis Global states that it was the subject of a routine compliance assessment in early July, asserting that it has “undergone these assessments previously without any adverse material findings”.
However, following the latest evaluation, the UKGC issued a review of Genesis’ British remote operating licence, with a further decision made to hand-down the temporary suspension.
Following independent legal advice, the company has emphasised that is it “of the opinion that the decision to suspend their operating licence is not only disproportionate but also inconsistent with UKGC’s previous regulatory enforcement action in regard to other operators”.
As a result, the group has confirmed that they will therefore be vigorously appealing against the decision to suspend, using all channels open to it.
Furthermore, the firm is fully cooperating with the UKGC in its licence review and has voluntarily provided the regulator with an action plan following the assessment, prior to the suspension and review decision.
Reasserting an “extreme level” of disappointment at the outcome and a firm commitment to complying with regulations, Genesis is to “continue with its own existing compliance systems, policies and procedures whilst also continuously improving upon them”.
Highlighting that it is important to highlight to their customers “that all funds are always 100 per cent fully secured and available for withdrawal”, it was added :“To all our loyal and trusting stakeholders; in particular our dedicated customers, team, suppliers, and others we assure you that it is business as usual in all other jurisdictions in which the company operates and we appreciate your continued support during these challenging times.”
Earlier in the week the UKGC announced an interim suspension to the operating licence of Genesis Global Limited due to suspicions that certain conditions have been breached.
Commenting that “this is due to a number of compliance issues,” the licence suspension, effective immediately (Monday 20 July 2020), makes it illegal for Genesis Global to offer gambling services via its suite of igaming sites in Great Britain.
Those sites suspended are Casoola Casino, Casino Planet, Kassu, CasinoCruise, Casino Gods, Casino Joy, Genesis Casino, Pelaa, Sloty Online Casino, Spela, Spinit and Vegas Hero.