Victoria Gate Casino Leeds license suspended over money laundering concerns

Victoria Gate Casino in Leeds has been shut down after the UK Gambling Commission suspended its license.

Leeds’ Victoria Gate Casino was shut down on Friday (October 31), following an investigation by the Gambling Commission due to concerns about anti-money laundering and counter-terrorist financing risks. The UKGC has suspended its licence after a compliance assessment found significant failings in the casino’s policies and controls.

The UKGC has deemed Victoria Gate Casino as “unsuitable to carry on the licensed activities”, with the assessment revealing that the operator has “failed to maintain and implement effective anti-money laundering policies, procedures, and controls, as required under the conditions of their licence”. The commission will continue to review the casino’s operation moving forward.

As it stands, the casino has shut down its operations with immediate effect, leaving a notice up at the front of the Leeds establishment stating that the license has been “temporarily suspended”.

“We hope to open and welcome you back very soon,” reads the notice. A message has also been added to the casino’s website. The UKGC has not given any indication of how long the further review will take in its statement.

“These failings are considered significant and represent a serious threat to the licensing objectives, in particular keeping crime out of gambling,” said the UKGC. “We have made it clear to the operator that during the suspension, we expect it to focus on treating consumers fairly and keeping them fully informed of any developments which impact them.”

The importance of anti-money laundering measures

With gambling, especially in physical casinos, being a cash-heavy business, anti-money laundering is a vital measure for any operator. Authorities around the world are typically strict on AML policies, with Australia’s financial watchdog similarly clamping down on inadequate policies earlier this year. Denmark also recently revamped its policies to be in keeping with modern demands.

ReadWrite has contacted Victoria Gate Casino for further comment.

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