In Malta, a famous watch retailer is Watch World Luxury and the company’s gaming license suspended by the Malta Gaming Authority (MGA). Accordingly, no longer the company can offer gaming services, register new players, operates as a service provider, and accept deposits from them.
As per the MGA, an order issued to the theme, and the Watch World Luxury authority failed to comply with the order. Moreover, the company was unable to ensure the availability and integrity of the essential regulatory data for determining fairness and transparency. Failing to provide crucial regulatory data and its integrity is the main reason for this incident.
MGA Suspended the Gaming License
The essential functions roles failed to designate by the retailer within its business, which Malta Gaming Authority set as the direct regulation breach. It is to clarify a Type 3 B2C license of gambling service held by the World Watch Luxury. In 2018, the permit issued
and through this license, the company enable to offer games on its sites oneonHundred.com and WorldWatchLuxury.com.
On its social media pages, the company used to organize draws to sell and market watches. Previously the company for its watches offered draws on its social media pages. Both the sites currently have been taken down. However, to revoke the suspension, World Watch Luxury may choose to appeal.
The gaming license of the Malta Based watch retailer has cancelled by the MGA. No longer, any gaming operations will carry out by the company.
Last week, the annual report announced by the MGA reports that 14 licenses had cancelled in 2019, but in 2018 the number of cancellations was 8, and 11 got the suspension. Also, the report found that €1.56bn contributed to the country’s economy by the Maltese gaming industry. By 3.9 per cent, the number of gaming companies has increased to 294 but remained below the level of 2017.
For having breached the following regulations of 9(1), Watch World Luxury faced the sanctioned.
- The authority ordered an issue and acting contrary to.
- The essential regulatory data and its integrity failed to ensure.
- The critical function roles were unable to designate.
According to the Gaming Act Article 43, this decision is subject to an appeal.
