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Webis Holdings PLC - Isle of Man-based gaming firm - Receives approval for the renewal of its Isle of Man gaming license by the Isle of Man Gambling Supervision Commission. The license is for five years, due to expire in August 2027. Says its considers this renewal to be ‘strategically beneficial’ for the provision of services to its non-US players.
Says that the license focuses on consumer protection. Operators licensed by the GSC must protect players' money, which is classed as deposits, winnings and any bonuses that have been earned. This money is held in a segregated bank account kept separately from the company's other bank accounts and cannot be used to support operations, or for any other purpose.
‘Whilst the main focus of the group is the continued expansion of its activities in the USA, this license renewal gives the group flexibility and the ability to grow international business within a credible and well-respected jurisdiction in the sector,’ the company adds.
Current stock price: 2.22p, down 3.5% in London on Tuesday
12-month change: down 43%
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