MGA cancels Field of Fortune’s gaming licence

The Malta Gaming Authority has cancelled the operator’s licence for non-payment of licence fees.

Malta.- The Malta Gaming Authority (MGA) has cancelled Field of Fortune Limited’s gaming licence after concluding that it breached regulations on the payment of licence fees. Field of Fortune can no longer operate under an MGA licence.

The MGA said the operator had breached regulation nine of Malta’s Gaming Compliance and Enforcement Regulations. This regulation states that licensees must pay licence fees to the regulator in a timely manner. The regulator said Field of Fortune must settle all outstanding fees immediately.

Last week, the MGA also reported that it had cancelled the licence of BIB Limited, the operator behind sports betting brand Bet It Best. The regulator had given the operator extra time to get its house in order after initially serving a notice of cancellation on December 22 last year.

The MGA initially gave BIB Limited 20 days to respond and demonstrate why enforcement action should not go ahead. Its submissions made at that time were deemed sufficient to merit extra time to correct breaches of its licensing conditions. However, the MGA says BIB has failed to make the necessary changes within the timeframe it allowed.

It has now ordered BIB to halt all gaming operations immediately and to submit all outstanding reporting requirements. It must settle any outstanding fees and remove all references to the MGA from its communications.

Earlier this month, the MGA issued a new ten-year licence for Malta’s National Lottery. The regulator granted the licence to IZI Group’s National Lottery PLC, which replaces Maltco Lotteries Limited as the operator of the lottery. It’s the first time in 18 years that a fully Maltese-owned company has operated the lottery.