Less than a week after the suspension of their license by the UK Gambling Commission, BGO Entertainment have opted to surrender their UK license and fully withdraw from the UK market. The company, which operated brands such as BGO, Power Spins and Vegas Luck, posted a note to their website on the 22nd October 2021 which reads:
“BGO Entertainment Limited surrendered it’s UK operating licence on 22nd October 2021. It is with regret that we have to inform you that UK players are no longer permitted to access any of our services.
We kindly request that you withdraw any funds currently in your account. Deposits will not be permitted.”
Why Was The License Surrendered?
The forfeiture of their license probably won’t come as a huge shock to anyone who has been paying attention to the UK gambling scene over the past few years, and more and more brands are opting to exit the market rather than navigate the many compliance hoops that exist in the country. Failure to adhere to these rules often results in hefty fines.
BGO Entertainment have previously found themselves on the wrong end of the UKGC and in 2020 they were required to make a £2m payment to the National Strategy to Reduce Gambling Harms, whilst also implementing enhanced due diligence on their highest depositing players.
On the 15th October 2021 the Gambling Commission went one step further and suspended their license whilst they carried out a further review into the companies operation. The precise reason for this review is unknown as the statement from the UKGC gave little away:
“The review and consequent suspension follows concerns that activities may have been carried out contrary to the Act, not in accordance with conditions of their licence and that the Licensee may be unsuitable to carry on the licensed activities. Failing to protect consumers was a key consideration in the suspension decision.”
What Should Players Do Now?
UK based players of any of the BGO Entertainment brands should log in as soon as possible and request a withdrawal of any funds held in their account. No other action will be permitted.