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GB Gambling Commission Suspends Goldchip’s License

Goldchip Ltd. is suspending all operations under its operator’s license pending an investigation by the Great Britain Gambling Commission (GBGC). It’s another big move from the British government on an operator that’s allegedly operating outside the confines of the Gambling Act of 2005.

Details of what exactly Goldchip may have done in violation of their license is still very unclear. A statement posted on the GBGC website, “Suspected social responsibility and anti-money laundering failings were key considerations in the suspension decision,” which covers a tremendous amount of ground and leaves plenty of room for speculation.

Though Goldchip Ltd’s daily operations are suspended, customers can still access their accounts and withdraw funds if they’d like and is effective immediately. The GBGC further stated, “We have made it clear to the operator that during the course of the suspension, we expect it to focus on treating consumers fairly and keeping them fully informed of any developments which impact them.

The suspension does not prevent the operator from allowing consumers to access their accounts and withdrawing funds. Goldchip Limited – which operates – can be contacted through its website.”

Though it’s likely little comfort to Goldchip’s stakeholders, they’re hardly alone in attracting the attention of Great Britain’s gambling regulators and investigators. Just yesterday the commission dropped a £500,000 ($620,000 USD) fine on Jumpman Gaming and a £175,718 ($217,000 USD) fine on Progress Play for anti-money laundering and social responsibility failings. Both companies will be able to retain their licenses.

Goldchip’s suspension goes into effect immediately, though it’s unclear how long the investigation might take.