Compliance Updates

Romania slaps fine on betting operator

Published

7 years ago

October 22, 2018

Niji Narayan

Photo Source: herald.co.zw

Reading Time: < 1 minute

Romania’s competition regulator has slapped a fine of €50,000 (£44,000/$58,000) on Westgate Romania on irregularities in completing a deal to acquire Stanleybet’s brands in the country.

Westgate accepted that company completed the acquisition before deal was fully approved by the competition regulator. The admission of charges lowered the fine.

Here is what happened.

Westgate signed a deal to acquire the Stanleysport.ro and Stanleybet.ro domains, as well as the Stanleybet brand in Romania, with Stanley International Betting Limited.

The competition regulator approved the deal in February of this year. However, Westgate had already “opened and closed workstations and installed or withdrawn terminals” by that time.

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Niji Narayan

Niji Narayan has been in the writing industry for well over a decade or so. He prides himself as one of the few survivors left in the world who have actually mastered the impossible art of copy editing. Niji graduated in Physics and obtained his Master’s degree in Communication and Journalism. He has always interested in sports writing and travel writing. He has written for numerous websites and his in-depth analytical articles top sports magazines like Cricket Today and Sports Today. He reports gaming industry headlines from all around the globe.