UKGC suspends unfit Nektan Plc’s B2C licences

News  /  Published 30 Apr 2021  / 

The UK Gambling Commission (UKGC) has suspended the remote B2C online gambling licences of mobile gaming group Nektan Plc.

The Commission informed that it has placed Nektan under a section 116 investigation, examining the ‘manner in which the operator carried its licensee practices’ and whether the company had breached its licence conditions and compliance duties.

In its notice, the Commission stated that Nektan B2C suspension had been enforced as it suspected that the business was unsuitable to carry on with its licensed activities, consistent with the UKGC’s licensing objectives.

“The licence suspension, effective from 27 April 2021, makes it illegal for Nektan (Gibraltar) Limited to offer gambling services via its websites which are listed on the Commission’s public register,” the UKGC informed.

An embattled Nektan re-entered administration in April 2020, having been forced to reappoint administrators following a further failed investment round to secure its business units.

Prior to its administration, Nektan had entered an agreement for ActiveWin white label subsidiary Grace Media to acquire its B2C assets for £200,000, with Nektan agreeing to receive monthly fees for its divestment.

Nektan was founded in 2011 as a mobile-first white label online gambling services provider. Entering financial difficulties at the start of 2020, the company was forced to withdraw from trading on the London AIM exchange.

The firm’s mobile casinos included PlayUK.com, Monster Casino, Jackpot Mobile, Kerching and Spins Royale.

Nektan’s B2B unit was acquired by Gibraltar-based Real-Time Strategic Marketing Limited and rebranded as Markor Technology.

 

Source: SBC News