Platinum Gaming got a formal caution from Gibraltar’s gambling regulator on November 13. The company runs Unibet.co.uk and holds licenses in both Gibraltar and Great Britain.
It already paid £10m to Britain’s Gambling Commission back in October. That fine covered social responsibility failures and some anti-money laundering problems from 2023.
The Gibraltar Gambling Commissioner reviewed the same issues. But it didn’t add another financial penalty on top of the British fine.
Why Gibraltar Took Action Without Extra Fines
The regulator found problems with how Platinum Gaming handled customer deposits and risk checks. These weren’t new issues. Gibraltar had flagged similar concerns before about deposit triggers.
Gibraltar decided against more fines for a few reasons. The problems dated back to 2023, making them historical. Britain’s £10m penalty already hit hard. And Platinum Gaming showed clear improvements to its systems.
The investigation also dragged on for 21 months from start to finish. That long timeline factored into the decision.
Gibraltar found no actual evidence of money laundering or criminal money moving through the platform. The issues centred on weak due diligence processes and risk assessment methods instead.
What This Means for Platinum Gaming
The formal caution goes on the company’s permanent record. It affects how Gibraltar views Platinum Gaming’s fitness to hold a license.
The operator keeps its Gibraltar license. Regulators consider it fit and proper after reviewing the improvements it made to anti-money laundering and customer protection systems.
But the caution isn’t just paperwork. Gibraltar will look at it if any future problems come up. The company’s reputation with the regulator took a hit even without additional fines.
Gibraltar also made clear this impacts its own regulatory standing. When licensed operators mess up in other markets, it reflects poorly on Gibraltar too.
How Dual-Licensed Operators Face More Scrutiny
This case sets a warning for companies licensed in multiple places. Gibraltar now makes explicit that it reviews penalties from other jurisdictions.
Operating in Great Britain and Gibraltar means facing oversight from both regulators. A problem in one market triggers examination in the other, and further enforcement remains on the table if issues continue.
The 21-month investigation shows Gibraltar takes its review process seriously. Companies can’t assume one penalty settles everything across all their licenses.
Other dual-licensed operators should expect similar scrutiny. Gibraltar confirmed it’ll keep watching when any of its license holders face sanctions elsewhere.
