Key Moments:
- Platinum Gaming received a formal warning from the Gibraltar Gambling Commissioner following the UK’s £10 million penalty.
- A subsequent third-party review found Platinum Gaming’s compliance systems have been brought up to Gibraltar’s regulatory standards.
- The caution now sits on Platinum Gaming’s Gibraltar record and may be used for future enforcement decisions.
Regulatory Response Spans Borders
After Platinum Gaming, the operator of Unibet in Great Britain, was fined £10 million by the UK Gambling Commission, the ripple effects reached Gibraltar, where the company is also licensed. The Gibraltar Gambling Commissioner issued a public warning to Platinum Gaming, highlighting that the UK compliance failures raised concerns about the company’s fitness and propriety and potentially affected Gibraltar’s own reputation as a firm regulator.
Public Warning, Not Additional Fine
Instead of imposing another financial penalty, the Gibraltar regulator opted to issue a formal public caution, emphasizing its seriousness and making it clear that international regulatory actions will not go unnoticed, even if they occur outside Gibraltar’s jurisdiction.
Compliance Failures and Subsequent Improvements
The compliance breaches in question took place in 2023 and led to an extensive investigation by the UK Gambling Commission. Recognizing the magnitude of the UK’s £10 million fine, Gibraltar decided no further monetary penalties were necessary. A third-party review later confirmed that Platinum Gaming has enhanced its systems and controls, meeting current Gibraltar regulatory expectations.
Duties of Multi-Jurisdictional Operators
The Gibraltar Gambling Commissioner reminded operators licensed in more than one jurisdiction that they are required to comply with Anti-Money Laundering (AML), Countering the Financing of Terrorism (CFT), and Customer Protection Framework (CPF) requirements in all markets where they operate. Failures in one country can trigger regulatory scrutiny in another, and Gibraltar explicitly warned that future violations abroad might lead to further public disciplinary action at home.
| Entity | Action Taken | Jurisdiction |
|---|---|---|
| Platinum Gaming | £10 million fine by Gambling Commission | United Kingdom |
| Platinum Gaming | Formal public caution issued | Gibraltar |
Increased Oversight and Industry Implications
The caution issued now forms part of Platinum Gaming’s record in Gibraltar and could have implications if future compliance issues arise. For operators conducting business across multiple jurisdictions, this episode underscores the necessity of maintaining rigorous standards everywhere they hold licenses. As the caution signals intensified monitoring, firms are reminded that cross-border compliance is critical in safeguarding reputations and operational legitimacy.
- Author
Daniel Williams
