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  3. Sanction for Lucky 8 Limited
Sanction

Lucky 8 Limited

Account number:
Decision date:
8 November 2018
Outcomes:
Revoked

Details

Following a licence review, the Commission decided to revoke the operating licence issued to Lucky 8 Limited (the Licensee) under section 119 of the Gambling Act 2005 on the grounds that it was unsuitable to carry on the licensed activities.

The Commission found that:

  • the Licensee failed to report two key events in breach of licence condition 15.2.1.4
     
  • the Licensee failed to report key events in breach of licence condition 15.2.1.6
     
  • the Licensee had not been acting in reliance on their licence since 2011, despite repeated assurances as to when trading would begin
     
  • satisfactory assurance in relation to the Licensee’s source of funding had not been provided
     
  • it is unclear where management responsibility for the Licensee rests and has rested
     
  • the Licensee failed to submit change of corporate control applications in relation to two changes in shareholdings
     
  • it was difficult to accept that the link between the Licensee and GlobeCas (an unlicensed entity claiming the Licensee’s licence as its own) could have been made without the knowledge and consent of one of the Licensee’s directors
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