News

Betway Facing Belgian Sanctions

Flag of Belgium in country silhouette

It has been reported that the Belgium Gambling Commission (BGC) is considering imposing significant sanctions on betting group Betway over breaches of BGC policy.

The possible sanctions relate to what has been described as a lack of transparency in the group’s ownership structure and according to Marjolein de Paepe, an official from the BGC, the organisation has already started the sanctioning process.

Betway has been a player in the Belgian online gambling market since July 2015, winning its original licence thanks to a partnership with land based operator Grand Casino Brussels, owned by Casinos Austria International.

Under the licensing terms imposed by the BGC, any company providing a remote gambling service in Belgium has to partner with an already-licensed domestic operators, and only one licence is permitted per incumbent. But an investigation by the BGC in 2017 allegedly discovered that an affiliate of Betway had been given a machine manufacturer licence, in breach of policy.

In addition, according to the BGC, the Betway subsidiary that earned the BGC online licence, Betway Malta, had not disclosed its corporate ownership structure, which they are required to do under the Belgian financial regulatory codes.

Betway’s corporate structure has been the focus of attention in the Belgian media in recent months, after the company announced major sponsorship deals with RSC Anderlecht and the Royal Belgium Football Association, and agree a deal to be the betting partner of the Croky Cup.

Click to comment

Leave a Reply

Your email address will not be published. Required fields are marked *

The Latest

To Top