Sportingbet switches to Maltese regulator
GVC-owned sportsbook transfers licence from Alderney regulator after closing its Channel Islands operations
Sportingbet has announced it will switch regulatory regimes this week to be licensed by the Lotteries and Gaming Authority of Malta, following the closure of the operator’s Channel Islands-based operations.
The move to the Maltese gambling regulator will take place on Thursday 9 January and will result in the termination of Sportingbet’s current operating licence with the Alderney Gambling Control Commission.
The decision to swap regulators was taken after the sportsbook closed down its Guernsey operations following last year’s takeover by GVC Holdings, with many of the roughly 100-strong staff transferred to GVC’s Malta base.
Sportingbet notified its customers of the decision over the weekend with the switch to result in website downtime of seven hours from 5am on Thursday while necessary amendments are made.
The operator said customer accounts will not be affected by the switch bar the downtime and “minor updates” to its terms and conditions.
Since taking control of the business, GVC has undertaken a major cost-cutting exercise in order to return Sportingbet to profit – a process which chief executive Kenneth Alexander (pictured) last month told eGaming Review had been “successful”.
The holding company, which also owns Latin American sportsbook Betboo and German-facing online casino Casino Club, is now in the market for further acquisitions with Alexander confident of replicating the Sportingbet turnaround.
Last month, GVC reported a strong start to Q4 after average wagers per day soared by 23% from 3.3m to 4m during the first two months of the period.
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