MGA Revokes the Licence of BetElephant Limited

The Malta Gaming Authority seems to be on a spree of cancelling licences of operators across the Maltese jurisdiction. Recently, it suspended the B2C gaming service licence (MGA/B2C/161/2008) of BetElephant Limited w.e.f 7th April 2020.

The suspension was in terms of Regulation 9(2) of the Gaming Compliance and Enforcement Regulations (S.L. 583.06). The same was sanctioned after BetElephant Limited breached sub-paragraph (iii) of this regulation.

Regarding the sub-paragraph and its breach, the MGA stated that the authorised operator has failed to comply with one or more obligations regarding regulatory instrument or other applicable Maltese laws, which include the following:

  • Failure to provide the list of key functions to the Authority
  • Failure to submit the Interim Financial Statements for 2019

Accordingly, the operator is no longer authorised to carry out gaming operations. It cannot register new players or accept deposits from them. However, it is obliged to retain all existing players, allow them to access their player accounts, and refund their funds standing to their credit. Furthermore, the MGA’s decision may be subject to an appeal as per to Article 43 of the Gaming Act (Cap. 583).

BetElephant was licensed by the MGA to offer casino gaming or fixed odds betting services via the Spartabet and BetElephant brands. The website has been taken down ever since, while the domain is now on sale.

Earlier this year, on 26th March, the MGA revoked the B2C gaming service license of Pick Mister after the operator failed to pay the licence fee for the year 2019. Similarly, it suspended the licence of Stakers Limited on 10th March after the operator lost its UKGC license a week earlier.

An iGaming enthusiast that have worked with online casinos and betting since 2017. Ex-chief editor for a sport news outlet, Vincenzo is the stalwart of the team who dares to dream big. He knows content that could be a player’s ticket to a million bucks. A quiet achiever, he believes in working in silence and letting success make the noise. He is also the one who ensures everything in the team works the way it should. We can always bet our boots on that.