Malta Gaming Authority Suspends SFJL Holding's Licence for Breach of Regulations
Published August 7, 2023 by OCR Editor
The Malta Gaming Authority (MGA) has taken swift action to suspend SFJL Holding Limited's gaming license due to breaches of gaming regulations. The suspension was implemented immediately after the MGA's ruling on 3rd August.
Malta Gaming Authority Acts Swiftly on Licence Suspension
The Malta Gaming Authority (MGA) has taken decisive action against SFJL Holding Limited, suspending the company's Type 2 Gaming Services license immediately. The suspension, triggered by multiple breaches of Malta's Gaming Compliance and Enforcement Regulations, officially came into force on 3rd August.
Breaches of Gaming Regulations
SFJL Holding Limited faced several regulatory infringements under Malta's Gaming Compliance and Enforcement Regulations. The MGA identified violations of regulations 9(1)(c), (k), and (j), which encompass different aspects of gaming operations.
Regulation 9(1)(c) relates to non-compliance with obligations stipulated in regulatory instruments or other applicable laws.
Regulation 9(1)(k) requires licensees to seek the regulator's approval for specific material changes within their business operations.
Regulation 9(1)(j) highlights instances, where the MGA would not have granted authorization had it been aware of certain circumstances.
MGA's Ruling and Suspension
The Malta Gaming Authority did not disclose explicit details of the breaches or the specific actions that led to the regulatory violations. Consequently, SFJL Holding Limited is prohibited from conducting any gaming operations during the suspension period. The suspension remains in place until further notice, subject to the outcome of any appeal initiated by the operator.
EGMIT Elite Limited's Licence Cancellation
The MGA's swift response to regulatory breaches did not stop with SFJL Holding Limited. The MGA canceled EGMIT Elite Limited's B2C gaming service license in a related development. EGMIT Elite operated the Elite24bet site under this license but must now cease all gaming activities.
Implications of Licence Cancellation
As a result of the license cancellation, EGMIT Elite Limited is no longer authorized to engage in gaming operations under the MGA license. The operator is required to remove any references to MGA approval from its websites and other platforms.
Police Report and Liquidation Proceedings
In addition to the license cancellation, the Malta Gaming Authority filed a police report against EGMIT Elite Limited, signaling the severity of the regulatory breaches. Furthermore, the MGA initiated liquidation proceedings against the operator.
The MGA's swift and stringent response to regulatory violations demonstrates its commitment to upholding gaming integrity and protecting players in the industry. Both SFJL Holding Limited and EGMIT Elite Limited now face the consequences of their actions, serving as a cautionary tale to other gaming operators operating under Malta's jurisdiction.
