The Isle of Man Gambling Supervision Commission (GSC) has imposed a £3.9m civil penalty on Celton Manx Limited, following a regulatory investigation that uncovered significant AML and CTF violations.
The penalty, originally set at £5.6m, was reduced by 30% to £3.9m after the company admitted the contraventions and cooperated with the regulator’s investigation.
Celton Manx surrendered its GSC gambling licence on 9 May 2025, ending nearly 17 years of operation under Isle of Man regulation.
It is the holding company for SBObet, which specialises in Asian-facing sports betting and iGaming.
The investigation began in October 2024 with an anti-money laundering inspection that identified a significant number of material contraventions of the Gambling (Anti-Money Laundering and Countering the Financing of Terrorism) Code 2019.
Isle of Man highlights ‘systematic’ violations
Many of these violations were described as systemic in nature.
The Commission found that Celton Manx failed to ensure its network partners applied equivalent standards to those required in the Isle of Man.
The company could not demonstrate adequate customer monitoring procedures and lacked proper processes for assessing money laundering, terrorist financing, and proliferation financing risks posed by customers.
Further serious failings included the company’s inability to verify customer identities properly, conduct enhanced due diligence on higher-risk customers, and maintain appropriate procedures for identifying suspicious activity.
The investigation also revealed that Celton Manx’s money laundering reporting officer and compliance officer lacked sufficient expertise for their roles.
Additional violations included late submission of a Suspicious Activity Report to the Financial Intelligence Unit, inadequate record-keeping procedures, and insufficient staff training on the company’s Network Services Model.
The Commission emphasised that holding an Isle of Man gambling licence requires operators to maintain the highest standards of regulatory compliance, governance and risk management.
The regulator noted that compliance with anti-money laundering codes is mandatory, not optional.
Celton Manx says no evidence of actual money laundering
Despite the extensive violations, Celton Manx maintained that its own inquiries found no evidence of actual money laundering or customer detriment.
The company acknowledged the serious shortcomings in its operations early in the investigation, however, and entered settlement discussions to resolve matters quickly.
The case comes after the Isle of Man issued a National Risk Appetite Statement in May 2025 regarding online gaming and financial crime.
The Commission warned that operators wishing to conduct business in East and Southeast Asia will face heightened scrutiny and must demonstrate they have the necessary expertise to prevent exploitation of their services.
The Commission stated the substantial penalty reflects the serious nature of the non-compliance, and serves as a warning to other operators about the importance of robust anti-money laundering controls in protecting the integrity of the Isle of Man’s gambling industry.
