Customers to were not lucky to withdraw their money from their accounts with the online gambling operator MoPlay have been given hope that they may finally be able to get their money.
As CasinoGuardian reported, the operating licence of Addison Global, the parent company of MoPlay, had its licence suspended by Gibraltar’s Gambling Licensing Authority in February, as it was unable to meet its liabilities. Then, the major gambling watchdog in the UK, the UK Gambling Commission (UKGC), followed suit and announced the suspension of Addison Global licence.
Subsequently, the company has explained that it had been facing some financial difficulties because of which it was not able to process withdrawals – an acknowledgement that raised fears among the users who had not withdrawn the money from their accounts with the company. In addition, the terms and conditions published on MoPlay’s website stated that user funds were not protected in case of insolvency, another issue that was considered highly concerning by the aforementioned customers.
Now, an update about the current state of affairs of the online gambling company was uploaded on the website of MoPlay. According to the information provided by the operator, Edgar Lavarello of PricewaterhouseCoopers Limited Gibraltar was appointed as liquidator of MoPlay’s parent organisation on February 25th, 2020 by the Supreme Court of Gibraltar.
MoPlay Confirms That It Is Exploring Possibilities to Safeguard User Money
The updated statement reminds that as a result of the operating licence suspension of Addison Global, all activities offered by the MoPlay brand were immediately suspended, with customers being unable to access or withdraw their funds so far.
The company apologised for the situation and the inconveniences caused to its customers but also confirmed that it is “exploring possibilities” to find a resolution to the problem by seeing to enter into arrangement aimed at safeguarding the money that customers have deposited. The gambling operator said it was thankful for the patience and confirmed it would make a further statement to its customers as soon as there is any development on the issue.
The update of the information published on MoPlay website was in line with the UKGC requirement to all operators to provide their customers with information about the level of protection they provide. Currently, there are three levels laid out by the gambling regulatory body of the UK – not protected, medium and high.
According to some analysts, one of the best options that have been examined, for the time being, is a sale of MoPlay’s database. Rumour has it that Star Sports is one of the potential buyers of the assets.
As CasinoGuardian reported earlier, MoPlay ceased its operations in the UK following the suspension of Addison Global’s gambling licence. The measure was confirmed by the UKGC, which revealed that the gambling operator was suspected of breaching its licensing rules, and for that, its gambling licence was suspended under section 120(1)(b) of the UK gambling Act 2005.
- Author
Olivia Cole
