Gamesys Operations Limited

About Gamesys Operations Limited

Gamesys Operations Limited is a prominent entity in the online gaming industry, established in October 2021 and registered under the number 38905. The company is headquartered at Suite 2, Floor 4, Waterport Place, Gibraltar, GX11 1AA. Under the leadership of CEO Lee Fenton, Gamesys Operations Limited has quickly made a name for itself in the competitive landscape of online casinos and sports betting.

Licensing and Regulatory Compliance

Gamesys Operations Limited operates under the regulatory oversight of both the Gibraltar Gambling Commission and the UK Gambling Commission. The company holds multiple licenses, specifically license numbers No. 046 and No. 153 from the Gibraltar Gambling Commission, as well as 038905-R-319430-019 from the UK Gambling Commission. These licenses enable the company to offer a diverse range of online gaming options, ensuring compliance with strict regulatory standards.

Casino Brands and Game Portfolio

The company boasts an impressive portfolio of five well-known casino brands, including Virgin Games, JackpotJoy, Double Bubble Bingo, Monopoly Casino, Rainbow Riches Casino, and Bally Casino. This diverse array of brands allows Gamesys Operations Limited to cater to various customer preferences, offering both traditional casino games and innovative online betting experiences.

Recent Regulatory Actions

On November 22, 2023, the UK Gambling Commission conducted a review of Gamesys Operations Limited's operating license and identified several compliance issues that occurred between November 2021 and July 2022. The findings revealed breaches related to Anti-Money Laundering (AML) regulations, specifically concerning the prevention of money laundering and terrorist financing, as well as failures in customer interaction protocols outlined in the Social Responsibility Code of Practice.

As a result of these findings, the Commission imposed a total financial penalty of £6,071,292, which includes a divestment amount of £165,042. Additionally, a warning was issued, and new conditions were attached to the company's operating license to ensure future compliance with regulatory requirements. Notably, during the investigation, the Commission found no evidence of criminal funds being deposited by the customers examined.

Conclusion

Gamesys Operations Limited continues to navigate the complexities of the online gaming sector while addressing regulatory challenges. The company's commitment to cooperation with the Commission and its proactive measures to rectify compliance issues reflect its dedication to maintaining a responsible gaming environment. As Gamesys Operations Limited moves forward, it aims to enhance its operations and uphold the standards expected by regulators and players alike.