Paradise Bet Licence Suspended by U.K.Gambling Commission

24.12.2009, The world of online gambling is regulated and licensed in the U.K and has it's safety nets for consumers

The UK Gambling Commission has been vigilant in looking out for the betting public and has revealed it will suspend the gambling licence issued to Paradise Bet Limited, a Hounslow wagering company that operates Paradise Bet and Bet 1128.

Without saying too much about the suspension, the U.K. Gambling Commission is conducting it's investigation under section 116 of the Gambling Act 2005 which is part of an ongoing examination of the company's practices.

The BNet publication reported on December 3rd of this year that the assets of a London based online betting company had been frozen by enforcement authorities in Italy as part of a police operation to break up a big mafia outfit.

BNet also states that, "Paradise Bet, a company licensed by the UK's Gambling Commission, has been linked to a three-year investigation into the activities of the Parisi clan, whose members are accused of attempted murder, drug trafficking, loan- sharking, interfering with the bidding process for public contracts and money laundering,"

Local politicians and businessman in the southern Italian city of Bari, are implicated in the scheme and were believed to be among the seventy four people arrested by Italian officials, along with the 48 year-old patriarch of the clan, Savino Parisi.

Police seized over two hundred properties, 680 bank accounts, 61 luxury cars, nine stables and 71 horses, believed to be trotting horses, and 35 businesses said to be worth around GBP 200 million. The Telegraph newspaper also reported on the case, revealing that Italian officials were aided in the operation by Britain’s Serious and Organised Crime Agency. The operation was codenamed 'Domino' and it seems remained completely undetected by the scamming group.

"Paradise Bet Ltd, of Hounslow in Middlesex, was granted a casino and general betting licence in April 2007," by the Commission with Bnet revealing that, "The group's financial statements for Paradise Bet Ltd from the year ended March 31, 2008, state the business made a loss in 2008 of GBP 1.6 million from turnover of GBP 105 million. The previous year the business made a profit of GBP 336 000 from turnover of GBP 108 million."

The Remote Gambling Association, managing director Clive Hawkswood told the publication that the seizure of the company was "not good news."

Über iGaming News:

Casinos.ch ist die Gaming & Entertainment-Plattform der Schweiz und mit über 20 Informationsportalen und rund 100 Internetnamen (Domains) das grosse News- und Pressenetzwerk der Casino- und Glücksspielszene in Europa.

Aktuelle News, Interviews, Fotos und spannende Stories - direkt und live aus den Schweizer Casinos, der Spielbankenszene Deutschlands, über das monegassische Casino von Monte Carlo, weitere Casinos aus ganz Europa und der ganzen Welt finden Sie auf www.casinos.ch. Und last but not least natürlich auch aus der Sin City 'Las Vegas'.

Die Informationen sind unterteilt in die Bereiche Casino-Informationen, aktuelle News, Events, Jackpot und Tournament-Informationen, Fotogalerien, Live-Berichte und Interviews.

--- Ende Artikel / Pressemitteilung Paradise Bet Licence Suspended by U.K.Gambling Commission ---


Weitere Informationen und Links:

Weitere Nachrichten der Gaming-Branche