MGA cancels EGMIT Elite Limited’s gaming licence

The MGA has also filed a police report.
The MGA has also filed a police report.

The Malta Gaming Authority says the operator breached several regulations.

Malta.- The Malta Gaming Authority (MGA) has cancelled the B2C  gaming service licence of EGMIT Elite Limited with immediate effect. It has been ordered to halt MGA-licensed operations and remove all mention of the MGA at its Elite24bet site.

The Maltese regulator said that the breaches were of such gravity that it has filed a police report on the operator and has begun liquidation proceedings. It says EGMIT Elite had breached a number of Gaming Compliance and Enforcement Regulations, specifically in sub-sections (b), (c), (d), (i), (l) and (m) of regulation 9 (1). 

It said the company had failed to comply with an MGA-issued order and failed to adhere to certain regulations and laws, breaching sections (b) and (c) respectively.

Section (d) entails failures to meet financial commitments, while section (i) relates to a requirement to fulfil commitments to players in a timely manner. Section (l) related to the late payment of regulatory fees. Finally, section (m) allows the MGA to suspend a Maltese gaming licence if it has sufficient reason.

EGMIT Elite has the right to appeal against the MGA’s decision under Article 43 of the Malta Gaming Act. The MGA has advised Elite24bet customers to contact the regulator if they have concerns.

Last month, the MGA (MGA) confirmed that it had suspended Tipster Limited’s gambling licence due to the business being wound up. The operator may no longer offer gambling under its MGA licence.

The MGA issued the suspension in accordance with Regulation 9 (1) (f) of Malta’s Gaming Compliance and Enforcement Regulations. It noted that Tipster is required to allow registered users to access their accounts and to refund any funds remaining.

Meanwhile, the European Commission (EC) is to inspect Malta’s Bill 55, which proposes legal protections for gambling operators licensed by the Malta Gaming Authority (MGA). The bill would protect licensees from prosecution for gaming activities in unregulated markets, but it needs EC approval to enter law.

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