GAN (UK) Limited
Summerlin, 89135, USA
What is a settlement?
Following an investigation into a licence holder we may enter into a regulatory settlement. These take place, for example, where the licence holder has been open and transparent with us and has shown a willingness to suggest actions that prevent the need for a more formal sanction.
Decision date: 28 October 2020
Outcomes: Payment in lieu of financial penalty, Divestment, Commission costs, Variation to apply conditions to licence and Public statement
Details of action
Between August 2018 to September 2019 GAN failed to comply with four licence conditions focused on social responsibility and anti-money laundering.
Failures included having ineffective anti-money laundering policies and procedures, not displaying warnings that underage gambling is an offence on its website and poor customer interaction guidance.
In line with our Statement of principles of licensing and regulation, GAN has agreed a regulatory settlement, consisting of:
- £100,000 payment in lieu of a financial penalty, which will be directed towards delivering the National Strategy to Reduce Gambling Harms
- divestment of £46,754 which accrued from customer accounts as a result of the failings, which will be directed towards delivering the National Strategy to Reduce Gambling Harms
- new operating licence conditions attached to GAN’s operating licence
- agreement to the publication of a statement of facts in relation to this
- payment of £6,000 towards the Commission’s costs of investigating the case
Agreement to the publication of a statement of facts in relation to this case - with the news story/ public statement being linked off the "a statement of facts".