Gambling Commission suspends Nektan’s operating licence


Gambling Commission suspends Nektan's operating licence

The Gambling Commission has decided to suspend the licence of Gibraltar-based supplier Nektan.

The regulator has suspended the company through section 118 (2) of 2005’s Gambling Act, stating that the suspension will follow an ongoing section 116 review of Nektan.

The Commission found Nektan had breached conditions of its licence and felt the company was not suitable to carry on its licence activities.

Nektan was deemed to be operating in a manner inconsistent with the objectives outlined in its licence agreement.

Thus, the company has had its licence suspended with immediate effect until the Commission has completed its review. The regulator did add that the suspension could be lifted if it felt Nektan was operating compliantly.

The suspension of the licence was made effective just two days ago and now it is illegal for Nektan to offer any gambling services on its websites that are listed on the Commission’s public register.

The Gambling Commission said: “We have made it clear to the operator that it must communicate effectively with its customers and that the suspension does not prevent it paying out winnings.”

Just last year, Nektan had its shares suspended after it failed to publish its audited annual report and accounts for 2019.

The company went on to be removed from the London Stock Exchange for not appointing a new nominated advisor.