Canadian regulator sanctions PointsBet
Listed Australian bookmaker PointsBet has struck trouble with its Canadian operation, which could have its iGaming registration suspended for a period of five days in Ontario.
The proposed suspension relates to a March 2024 incident in which PointsBet Canada is alleged to have failed to provide certain transactional information to the Alcohol and Gaming Commission of Ontario (AGCO) in connection with suspicious betting activity.
PointsBet confirmed the issue to the ASX on Friday.
It has the right to appeal the proposed order to the Licence Appeal Tribunal (“LAT”) within 15 days and is “considering all available options”.
“PointsBet Canada is disappointed by the AGCO’s proposed sanction, and believe it is disproportionate given PointsBet Canada’s collective actions and strong compliance record,” PointsBet Canada CEO, Scott Vanderwel, said.
“PointsBet Canada’s initial response to the AGCO request for information in March 2024 was incomplete. This was unintentional. Once the error was identified we immediately disclosed the correct information, in full, to the AGCO. PointsBet Canada have cooperated fully with the AGCO throughout its review.”
PointsBet Canada is owned and operated by PointsBet, which is headquarted and remains listed in Australia with Japanese company MIXI holding 66 per cent of shares.
