Casino gaming and online sports betting company Mansion Group surrendered its licence after almost two decades of operation in the United Kingdom gambling market. The cause is cited to be the government’s restrictive policies, which have had a substantial negative impact on the company’s profitability. The company relinquished its licence on 13 January, 2023.
A Mansion Group spokesperson said that though the business enjoyed serving British customers for almost 20 years the regulatory environment in the nation had become “increasingly challenging” as a result of the increased scrutiny placed on the industry, which ultimately resulted in much lower profits.
The company, which has its headquarters in Gibraltar, ran three online casino brands in the UK namely, Casino.com, MansionCasino, and SlotsHeaven and was successful in creating a goodwill over the course of several years of operation.
Less than a year ago, Mansion Group had also decided to stop providing sports betting services to devote all of its attention to the aforementioned casino brands, which at the time were highly successful and powerful. After reviewing the increasingly restrictive regulations in the UK, the group had concluded that running a sports betting website was not feasible.
In August 2022, the company had partnered with Les Ambassadeurs Club, the owner of a high-end casino and club in Mayfair, London in order to give its online casino players the possibility to participate in live play at the opulent private club.
According to the company’s chief marketing officer Neil Gallacher the casino and online sports betting operator will try to increase its influence in areas where its operations are already the most profitable. The group also plans to analyze new markets that might present further chances for expansion and financial success, as per a report by Casino Guardian.
The company is now shifting focus to non-UK markets. It plans to concentrate its efforts on enhancing its online casino footprint in a handful of licenced markets where it is already active, like Spain and Ontario, in the upcoming months and years.