UK GAMBLING COMMISSION SUSPENDS LICENSE OF GIBRALTAR-BASED NEKTAN

The UK Gambling Commission has suspended the license of iGaming supplier Nektan. 

Nektan, which is based in the British Overseas Territory of Gibraltar, was found to be breaching the conditions of its license, with the UKGC suspending its license through section 118 (2) of the 2005 Gambling Act. 

The license suspension took effect two days ago, and will remain in force until the UKGC has completed its ongoing section 116 review of Nektan. After that point, the license may be reinstated if the Commission decides the company has acted compliantly. 

As things stand, it is now illegal for Nektan to offer any gambling services on its websites that are listed on the UKGC’s register. 

In a statement, the Gambling Commission said: “We have made it clear to the operator that it must communicate effectively with its customers and that the suspension does not prevent it paying out winnings.”

This is just the latest major headache for Nektan, which had its shares suspended last year for failure to publish its audited annual report and accounts for 2019. The company was subsequently removed from the London Stock Exchange for failing to appoint a new nominated advisor. 

Nektan’s former website, www.nektan.com, now redirects to a company branded as Markor Technology– an iGaming supplier also registered in Gibraltar.