Online gambling operator maxent has confirmed to wrap up its business by pulling the online casino brands in the UK market.
While the operator has not said anything in particular as to what was the immediate reason behind the decision to give up on the UK online gambling market, it said that it is pulling its UK facing brands because of “recent political events.”
The operator has said that it has decided not to continue with the operations in the UK for “strategic business reasons.” Maxent’s brands – Slotty Vegas and BETAT Casino – will no longer be operational from January 2, the company said in an announcement. It also said that the customers would be able to close their online casino accounts before March 31.
Earlier in June 2019, the UK Gambling Commission had revoked Maxent’s license. The gambling watchdog has said that the operator’s license was suspended after it had identified concerns relating to the operator’s finances and information supplied to the UKGC about the ownership structure of the company.
While Maxent appealed against the gambling operator’s decision to revoke its license, it could not get the court to deliver a decision in its favor.
While the operator said that it was not happy to be leaving the UK market, it also added that it was necessary for them to take the step due to the uncertainty that this market currently holds for them, particularly due to ‘recent political events.’
The gambling operator refrained from directly referring to the recent election results and the government’s promise of a no-deal Brexit.
MaxEnt also said that it could make a comeback after Brexit and once the market is settled.
Commenting on the future plans of the company, CEO Greg Bennett said that they are hoping to get their Swedish license this month and are also looking forward to launching in the Netherlands while focussing on other regulated online gambling markets in Europe.