The Gambling Commission has decided to cancel Nektan’s license, which is based in Gibraltar.
The company has been suspended by the regulator under section 118 (2) of the Gambling Act of 2005. The suspension will follow a section 116 review of Nektan.
The Commission determined that Nektan had violated the license’s terms, and the company was unfit to carry out license activities.
Moreover, Nektan was operating in a manner that was inconsistent with the license agreement’s objectives.
As a result, the company has had its license suspended with immediate effect until the Commission completes its investigation. The regulator did say that if Nektan was operating correctly, the suspension could be lifted.
It is now illegal for Nektan to offer any gambling services on its websites listed on the Commission’s public register.
“We have made it clear to the operator that it must communicate effectively with its customers and that the suspension does not prevent it from paying out winnings,” the Gambling Commission said.
Nektan had its shares suspended just last year after failing to publish its audited annual report and accounts for 2019.
The company is also no more listed on the London Stock Exchange after failing to appoint a new nominated advisor.