PointsBet is facing a potential five-day suspension of its iGaming registration in Ontario, Canada. The Alcohol and Gaming Commission of Ontario (AGCO) issued a Notice of Proposed Order following an incident in March 2024. PointsBet is an online gaming operator, providing sports and racing betting, as well as iGaming. The company aims to offer innovative products and services to its customers.
The AGCO alleges that PointsBet Canada failed to provide certain transactional information connected to suspicious betting activity. PointsBet has the right to appeal this decision to the Licence Appeal Tribunal within 15 days. The company is currently reviewing its options, which include requesting a formal hearing to address the allegations and present its case.
Scott Vanderwel, chief executive of PointsBet Canada, acknowledged that the initial data provided was incomplete but stated that this was unintentional. According to Vanderwel, the correct data was disclosed as soon as the error was identified internally. While the appeal process is underway, PointsBet Canada will continue its normal operations without interruption.
Following the announcement of the proposed suspension, shares in PointsBet experienced a decline, trading down by 1.7 per cent. The company will need to successfully appeal the suspension to ensure that there are no disruptions to its business in Ontario.
