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🎲 Videoslots Limited
Account Number: 39380
Videoslots Limited operates 4 online gambling sites in the UK. Their gambling sites include www.megariches.com, www.mrvegas.com, www.videoslots.com and 1 more. Videoslots Limited has 1 regulatory action on record with the UK Gambling Commission.
This is an online gambling operator offering remote casino products to customers in Great Britain under an active operating licence from the Gambling Commission. The business is part of a wider group of iGaming brands and was founded in 2011 by Alexander Stevendahl.
The company originated with the launch of an online casino brand in 2011. Over time it expanded into a multi-brand operation, adding further consumer-facing gambling sites under the same corporate umbrella. In 2024 the wider group structure was reorganised under a holding company named Immense Group AB, with Stevendahl remaining as chief executive of the operating company and Jesper Kärrbrink appointed chief executive of the holding entity. The group operates in multiple regulated markets in Europe and North America through local licences.
Licensing and Operations
Under its Gambling Commission operating licence, the company is authorised to offer remote gambling services to customers in Great Britain. The licence permits it to provide online casino-style games, including slots and table games, to British consumers. The licence is recorded by the regulator as active.
In addition to its British authorisation, the operator holds gambling licences in other jurisdictions, including Malta and Sweden, enabling it to offer online casino and, in some markets, sportsbook products. Within Great Britain, the brands operated under this licence include online casino sites and associated products as specified in the Gambling Commission’s public register.
The business model is based on offering a large portfolio of third-party and in-house casino games via remote platforms, supplemented in some markets by a proprietary sportsbook. The group uses a multi-brand strategy, operating several distinct consumer brands aimed at different segments and jurisdictions, while centralising core operational functions within the same corporate group.
Regulatory History
The Gambling Commission has taken enforcement action against this licensee on multiple occasions in relation to anti-money laundering and social responsibility requirements.
In March 2019 the Commission announced that the operator would pay £1 million as part of a regulatory settlement following an investigation into failings in its anti-money laundering and customer interaction controls. The settlement included a payment in lieu of a financial penalty and the implementation of remedial measures.
On 12 March 2021 the Commission reported that the business was to pay £650,000 for anti-money laundering and social responsibility failures. The investigation identified shortcomings in monitoring of customer activity and in the processes used to identify and manage potential risk. The outcome included a financial penalty and additional licence conditions.
On 3 October 2022 the Commission announced that the operator would pay £2 million as part of a further regulatory settlement. The case related to regulatory failures between October 2019 and February 2022, including issues in identifying customers at risk of gambling-related harm and in applying appropriate anti-money laundering controls. As part of the settlement, the operator agreed to pay the sum in lieu of a financial penalty, with funds directed to socially responsible causes, and to implement specific improvements to its compliance systems.
Following these enforcement actions, the operator’s Gambling Commission licence remains active, and the business continues to provide remote gambling services to customers in Great Britain subject to the conditions of its operating licence.
🎲 Videoslots Limited Sister Sites
🏢 Business Information
Videoslots Limited
39380
📍 Address Information
The Space, Level 2/3, Alfred Craig Street, Pieta
PTA 1320
Malta
📋 Licence Types
⚠️ Regulatory Actions
What This Means:
Videoslots Limited was found to have failed in its anti-money laundering practices and did not properly interact with customers regarding responsible gambling between October 2023 and February 2024. As a result, they received a £650,000 fine, a warning, and additional conditions on their operating licence. Players can continue to use the site, but should keep an eye on their accounts and be aware of responsible gambling practices.
View Official Details
Following a review of the operating licence of Videoslots Limited (the Licensee), the Commission found that between October 2023 and February 2024 the Licensee: Breached paragraphs 2 and 3 of Licence condition 12.1.1: Anti-money laundering - Prevention of money laundering and terrorist financing. Failed to comply with paragraph 1 and 4 of Social Responsibility Code Provision (“SRCP”) 3.4.3: Customer Interaction. In line with the Commission’s Licensing, compliance and enforcement policy statement, the Indicative sanctions guidance, and the Statement of principles for determining financial penalties, the Commission has decided to: impose a warning under section 117 (1)(a) of the Gambling Act 2005 (the Act);impose a financial penalty of £650,000; and,attach an additional condition to the Licensee’s operating licence under section 117(1)(b) of the Act. The Licensee co-operated with the Commission throughout the investigation, and took immediate steps to remedy the issues identified.
What This Means:
Videoslots Limited was found to have serious issues with its processes for preventing money laundering and protecting players from gambling harm. As a result, they have agreed to pay £2 million instead of a financial penalty, along with additional costs of £11,308, and will need to make changes to their operations. This action won't affect your ability to play, but it's a reminder to stay aware of how operators manage your safety and security.
View Official Details
This investigation followed two compliance assessments which resulted in the commencement of a section 116 regulatory review1 of Videoslots’ Limited (Videoslots). The regulatory review found failings in the implementation of Videoslots’ processes which were aimed at preventing Money Laundering (ML) and ensuring safer gambling. Between October 2019 and February 20222, Videoslots failed to comply with certain Licence Conditions and Codes of Practice (LCCP), specifically: paragraph 3 of licence condition 12.1.1, requiring licensees to ensure that ML policies, procedures and controls are implemented effectively, kept under review, revised appropriately to ensure that they remain effective, and take into account any applicable learning or guidelines published by the Gambling Commissionparagraphs 1a, 1b and 2 of Social Responsibility Code Provision (SRCP) 3.4.1, requiring licensees to identify and interact with customers in a way which minimises the risk of customers experiencing harms associated with gambling, and to take into account the Commission’s guidance on customer interaction. The investigation, and our subsequent regulatory review, found: failings in Videoslots’ implementation of Anti-Money Laundering (AML) policies, procedures and controlsdeficiencies in its responsible gambling controls and practices, and weaknesses in the implementation of the existing policies procedures and controls. In line with our Statement of principles for licensing and regulation, Videoslots will make payments in lieu of a financial penalty of £2,000,000. Further information about this case can be found on our website: Videoslots Limited Public Statement (gamblingcommission.gov.uk)