A spokesperson for Videoslots stated: “We confirm that Videoslots has entered a regulatory settlement with the UK Gambling Commission to conclude a review of our operating licence. Their investigations were part of a thematic review by the regulator into AML and responsible gambling compliance in the remote gambling industry.
“We are pleased that the UK Gambling Commission recognises that we were open and transparent from the outset of their investigation and fully cooperative throughout. We accept there were weaknesses in our systems relating to how we managed our customers for anti-money laundering and social responsibility purposes and have taken proactive and timely action to address all the issues identified.
“We have agreed to make a payment in lieu of a financial penalty which will go to a National Responsible Gambling Strategy project or projects to pay for research and treatment as determined appropriate to address the risk of harmful gambling and we have already started putting the lessons learned into practice.”
About Videoslots.com:
Founded in 2011, Videoslots.com is an award-winning online casino with the widest variety of games in the industry. With an unparalleled range of almost 2,000 slots and table games from trusted providers, Videoslots.com offers a premium gaming platform to customers, enhanced by innovative new promotional concepts including Casino Races and Battle of Slots. It aims to create a unique entertainment product via technical excellence, exceptional customer service and the latest game play innovation. Videoslots.com also provides market-leading customer protection with its industry-first Max Bet Protection, allowing players to select their maximum bet limit per spin, and robust compliance procedures. It was the winner of Best Casino at the 2015 and 2016 Casinomeister Awards, Best Gaming Experience and Best Casino Manager at the 2016 Casinomeister Awards, and Best Slots Operator at the 2017 International Gaming Awards. Videoslots.com is owned by Malta-based parent company Videoslots Limited, and holds licences in Malta, the UK and Curacao.
