£3.9 million civil penalty imposed on gaming company

Celton Manx fined for 15 contraventions of regulatory code

A regulatory inspection by the Gambling Supervision Commission has resulted in a civil penalty of over £3.9 million being imposed on local eGaming company.

Celton Manx Limited, which surrendered its licence in May this year, was found to have committed multiple contraventions of the Gambling (Anti-Money Laundering and Countering the Financing of Terrorism) Code.

An initial penalty of over £5.6 million was discounted by 30 percent due to the company's senior personnel engaging appropriately and meaningfully with the GSC from an early stage, and agreeing to the terms of the settlement expeditiously.

In all, 15 contraventions of the code were identified, with the GSC describing some of them as systemic in nature.

The Commission says it's satisfied that the imposition of the civil penalty on Celton Manx reflects the serious nature of the non-compliance and the issues and risks identified.

It was further noted by the GSC that Celton Manx acknowledged the serious shortcomings in its operational and governance arrangements at an early stage of the Commission's investigation.

Celton Manx formally surrendered its licence with effect from 9 May.