Customer Deposit Trust Account
Genting Casinos UK Limited (“Genting”) have created a Customer Deposit Trust Account to segregate Deposits received from the players via the various Payment Methods, the Deposits may not be protected in the event of Genting entering into administration.
Deposits are first maintained as part of the float in the various Payment Methods. From time to time (normally once a week), any excess funds held in the float are transferred from the respective Payment Methods to the Customer Deposit Trust Account. Sufficient funds are maintained in the Payment Method float as well as the Customer Deposit Trust Account to ensure that Genting is able to meet Withdrawals.
Deposits are segregated from Genting's corporate fund accounts and Deposits are only transferred from the Customer Deposit Trust Account to the corporate fund accounts when the aggregated balances in the various Payment Methods float and Customer Deposit Trust Account are more than the aggregate of the player's outstanding balances in Player Accounts.
The amount transferred is limited to an amount such that there are always sufficient funds in the various Payment Methods and the Customer Deposit Trust Account to meet the player's Withdrawals in the event that they withdraw all of their funds from their Player Accounts.
Internal Controls are put in place to ensure the Deposits are properly accounted for including monthly reconciliations between the total of Payment Methods and the total of all the individual Player Account balances as well as independent review of the operation of the Payment Methods by both internal and external auditors.
There are no set off arrangements in place in relation to the operation of the Payment Methods, Customer Deposit Trust Account and the Player's Accounts.
Further, the Customer Deposit Trust Account has not been used as security for any liabilities of the company. Complete terms and conditions can be found at https://www.gentingcasino.com/terms-and-conditions/.