The awarded gaming authorization to Playboy has been cancelled by Malta Gaming Authority. Earlier the operator was running HDbets.com. The license got revoked due to the identification of systematic deficiencies in adhering to the obligations of AML/CFT set by the operators.
On September 6, for expiring the fixed odds, the operator’s B2C service license suspended voluntarily. Moreover, when to reactivate the license authorization or how it intended, the company’s license fails to provide no such plans.
MGA Suspended the License of Playboy
Due to the cancellation of the authorization, the gaming operations will no longer carry out by the operator. The company will be unable to accept deposit from a new customer, register new players and deal with any new players. But the company is obliged to provide access to all old, registered players to their existing accounts, and it is required to retain. With the applicable law standing in line with the players’ credit, the company needed to refund all the funds.
A series of similar cancellations of license followed in the news, including the Knockout gaming’s license suspension in September 2020, in April BetElephant’s permit, in March Pick Mister’s License and that of the license of Watch World Luxury.
The corruption crackdown scale of MGA has revealed in December 2019, which seen the suspension of 11 licenses and between January and June 7, the permit cancelled further.
Most recently, in May 2020, a suspicious bet reporting consultation opened by MGA. To report the suspicious betting activity for licenses, it introduces new mechanisms.
MGA is supposed to report suspicious betting activity by all the licenses as expected on the regulator’s website a new reporting system hosted.
The regulator of MGA identified the systemic deficiencies, and after that, the license of Playboy Limited get cancelled.
As part of the ruling, no further authorization or gaming activities will carry out by Playboy Malta. The company have to refrain from accepting the deposits of new customers or accepting the registration of the new players.
During 2019, following various regulatory breaches, many companies face the cancellation of license or authorization. MGA confirmed the issue in the financial year’s annual report or financial statement.
