{"id":1654,"date":"2023-10-14T04:32:43","date_gmt":"2023-10-14T04:32:43","guid":{"rendered":"https:\/\/infundpros.com\/markets\/stocks\/lcs-limited-hit-with-e2-1m-fine-by-dutch-gaming-authority\/"},"modified":"2023-10-14T04:32:44","modified_gmt":"2023-10-14T04:32:44","slug":"lcs-limited-hit-with-e2-1m-fine-by-dutch-gaming-authority","status":"publish","type":"post","link":"https:\/\/infundpros.com\/?p=1654","title":{"rendered":"LCS Limited Hit With \u20ac2.1m Fine by Dutch Gaming Authority"},"content":{"rendered":"
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\u00a9 Reuters. <\/span>
\n<\/i>\n<\/div>\n

On Friday, LCS Limited was fined \u20ac2.1 million ($2.4 million) by the Dutch Gaming Authority (KSA) for operating its gambling website, www.sonofslots.com, without a license in the Netherlands, thereby breaching the strict regulations of the Gambling Act. Despite previous warnings and penalties, LCS continued to allow access to its site and maintain its operations.<\/p>\n

Ren\u00e9 Jansen, KSA Chairman, emphasized that fines are usually effective enforcement mechanisms and that past violations can still be penalized even after obtaining a license or paying a fine. This is not the first time that LCS has been reprimanded by the KSA. In August 2022, following an investigation in March of the same year, LCS was hit with an initial \u20ac165,000 fine.<\/p>\n

The most recent fine is calculated at 8% of KSA’s estimated \u20ac25.9m turnover for LCS. The decision is part of KSA’s vigilant efforts to enforce the Netherlands\u2019 Gambling Act and protect local consumers from unlicensed gambling operators.<\/p>\n

While LCS faces regulatory challenges in the Netherlands, industry leaders are gearing up for SiGMA Europe’s Malta Week festival at the Mediterranean Maritime Hub (MMH) scheduled for November 2023.<\/p>\n

This article was generated with the support of AI and reviewed by an editor. For more information see our T&C.<\/em><\/p>\n<\/div>\n

Read the full article here<\/a><\/p>\n","protected":false},"excerpt":{"rendered":"

\u00a9 Reuters. On Friday, LCS Limited was fined \u20ac2.1 million ($2.4 million) by the Dutch Gaming Authority (KSA) for operating its gambling…<\/p>\n","protected":false},"author":1,"featured_media":1655,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[27],"tags":[],"class_list":{"0":"post-1654","1":"post","2":"type-post","3":"status-publish","4":"format-standard","5":"has-post-thumbnail","7":"category-stocks"},"yoast_head":"\nLCS Limited Hit With \u20ac2.1m Fine by Dutch Gaming Authority | inFundPros<\/title>\n<meta name=\"description\" content=\"\u00a9 Reuters. 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