Seven online gambling companies have lost their license, which they got from the Malta Gaming Authority (MGA). They have contacted other license operators to get their money back. As they did not follow the rules and regulations properly, MGA authority has banned their license opportunity.
Reasons for the cancellation
A great amount of fine has also been issued against them. Administrative fines were also issued by the operators. Already two licenses have been suspended by the operators. The report has also included B2C gaming licenses. The critical supply license has been ensured by the authority. The number of active players has been increased.
Slots are considered one of the most popular forms of online gambling. In land-based gambling, we find that casinos take a hit and close the business temporarily. Controlling the game premises may work as the major concern for the authority at present. MGA has analyzed the market and said that the companies were active by the last period of H1.
More than 8009 people become involved in the industry. We found 7196 businesses online and 813 in the land-based gaming. In total license of 25 operators have been revoked. According to the annual report, regulatory breachers are found because of the breach in the system. It has released the financial statements and the annual report. The financial statement of the previous year shows that MGA has failed to combat the improper activities of the gambling operators. Fourteen licenses were suspended because of the data breach.
Knockout Gaming Limited has lost its license too because of this. Registering the new players or the acceptance of new customer deposit is totally prohibited now. To retain the required players, it is prohibited to adopt any illegal activities. With the sanction of the knockout gaming limited, it can restore all of its activity. Until then, it has to wait for a few days. The decisions can become the subject of an appeal based on Article 43, according to the Gaming Act. It was clearly mentioned that if the person fails to remit the compliance or the contribution, he must have to renew the license.
