{"id":7548,"date":"2024-07-16T11:29:48","date_gmt":"2024-07-16T11:29:48","guid":{"rendered":"https:\/\/slategray-wallaby-310340.hostingersite.com\/index.php\/2024\/07\/16\/ukgc-deems-allwyns-russian-connections-irrelevant-to-lottery-licensing\/"},"modified":"2024-07-16T11:29:48","modified_gmt":"2024-07-16T11:29:48","slug":"ukgc-deems-allwyns-russian-connections-irrelevant-to-lottery-licensing","status":"publish","type":"post","link":"https:\/\/casino-online-best.com\/index.php\/2024\/07\/16\/ukgc-deems-allwyns-russian-connections-irrelevant-to-lottery-licensing\/","title":{"rendered":"UKGC Deems Allwyn\u2019s Russian Connections Irrelevant to Lottery Licensing"},"content":{"rendered":"
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Recent disclosures from the UK Gambling Commission (UKGC) indicated that Allwyn\u2019s prior ties to Russia had no bearing on the National Lottery licensing procedure. Following the submission of a freedom of information request by the gaming news outlet NEXT.io, this explanation was made.<\/p>\n

Only last month did KKCG, the parent firm of Allwyn, break off its business ties with Russian companies. Because of these ties, several questioned UKGC\u2019s decision to grant Allwyn the lottery license. But according to a March 2022 email from the UKGC to Allwyn, the Russian connections of KKCG were not considered significant to Allwyn\u2019s proposal.<\/p>\n

Separation from Russian Investments<\/h2>\n

The UKGC further clarified that Russian energy giant Gazprom\u2019s investments in KKCG did not directly impact Allwyn. The regulator emphasized that these investments were unrelated to the Allwyn group, which operates as a distinct corporate entity.<\/p>\n

In response to the concerns, Allwyn eventually cut ties with Russia. UK MPs had previously criticized the UKGC for lacking transparency. Iain Duncan Smith, in an interview with The Guardian, mentioned difficulties in obtaining information about Allwyn\u2019s alleged Russian connections from the regulator. While the UKGC did address the issue, Smith expressed concerns over the prolonged process.<\/p>\n

Allwyn also had loans from Russian banks VTB and Sberbank, both sanctioned by the UK and EU following Russia\u2019s invasion of Ukraine. Although Allwyn promised to cease dealings with these banks and eventually repaid its debts, this raised further transparency questions about the UKGC. Notably, Allwyn failed to disclose these loans during the DCMS select committee hearings.<\/p>\n

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