“This is an astonishing penalty imposed by the Gambling Commission’s Regulatory Panel on Daub Alderney Limited, part of the AIM-listed Stride Gaming Group. The fine is almost double that of the original £4m set aside by the Board of Stride Gaming to cover this outcome, and comes alongside a warning and additional conditions imposed on the operating licence.
This penalty will send shockwaves throughout the Gaming industry, as the amounts involved are now so high that they are materially significant for some operators. What remains to be seen is how the stock market perceives this action. Stride’s share price rose by .90% following the announcement, so the market is either relaxed about the figure or the outcome hasn’t been widely reported yet.
“Philippa and the team at Joelson have been great partners for our business… responsive, commercial, and have added value to our company, from assisting with drafting standard legal documents to full blown commercial negotiations, they have a unique skill set that caters extremely well to the increasing demands of a high growth business.”