Tune in for a round-up of the latest January Malta Gaming Authority news! The MGA suspends another iGaming licence & fake operators! (Image Courtesy of Go to Ross Findon on Unsplash )
Another MGA operator has felt the wrath of the Malta Gaming Authority (MGA) via a licencing suspension order for multiple failures in Reg 9, which is the same regulation Games Global Limited’s licence suspension fell.
The Malta Gaming Authority (MGA) recently suspended the Games Global licensing certificate because the company filed for insolvency in the courts of Malta. You can read more about the fall of Genesis Global Limited here. In the same news report, there is also coverage of the new MGA player protection directive which came into effect on 12 January this year. It is designed to give you a safer and more enjoyable iGaming experience!
In fact, the MGA has been incredibly busy as of late with a new cryptocurrency licensing framework coming into effect at the end of February. The authority also released its latest performance stats, which you can get from the highlights box below. And of course, there is the above-mentioned brand-new player protection directive.
To add to the organisation’s list of activities, the MGA is also looking into forming an ESG Code of Good Practice group. If this comes to fruition, it is not compulsory, but the chances are software providers and operators will join as it is a chance to hit the headlines with Corporate Social Responsibility (CSR) activities, which is always good for publicity and building relationships. More on that story below.
MGA Performance Stats: See the latest Malta Gaming Authority (MGA) performance stats. It covers fines issued, licences suspended, applications refused and how many players it helped over the first 6 months of January 2022.
MGA Suspends Another iGaming License – Betago Ltd (C-71266)
Another one bites the dust as they say! The c operator is now no longer able to accept new player sign-ups to its online gambling platform. By all accounts, I have heard the name but had no dealing with any casinos or sports books under this operator. After further investigation, it looks like the website purely offered online sports betting services.
According to the MGA, the operator is in breach of multiple licensing rules under Reg 9. Therefore, the suspension of licence number MGA/B2C/355/2016 came into force.
- 9 (1) (c) Failed to abide by Maltese laws covering the use of regulatory instruments
- 9 (1) (d) Failed to meet financial obligations
- 9 (1) (l) Failed to pay fees due to the MGA for services
By reading the failures, the licence suspension appears to be a financial issue, but not the same one noted by the MGA when suspending the Genesis Global Limited licence, which states Reg. 9 (1) (f) Authorised Person is being wound up.
ESG Code of Good Practice Launched by the MGA
The Malta Gaming Authority is considering a voluntary ESG code of good practice for the remote gaming sector. It’s a laudable endeavour and one that will improve sustainability and reduce (ESG) environmental, social, and governance impacts in a bid to increase investment that will help produce more sustainable businesses.
Effectively, this is the formation of a Corporate Social Responsibility (CSR) club to focus on operators and software providers in sports betting and iGaming companies in Malta. And the idea is to investigate how these companies can have a positive impact on the environment, social and governance aspects in Malta.
This type of project is by no means the first of its kind and is one that many organisations across the globe partake in. One in particular that springs to mind is the Microgaming ‘Play it Forward’ program, which focuses and reports on CSR activities local community in the Isle of Man where it operates.
To get the ball rolling, and as the MGA says in its official new report, “in this spirit”, there is already a voluntary ESG reporting platform in place courtesy of the government. Companies can publish their CSR activities to the public.
Read the latest MGA News: You can catch up with all the latest regulatory news here on Casino Plus Bonus via the ‘Gambling Legislation Category’ or by using the ‘Casino News’ menu option.
MGA’s New Directives Reported in 2023
- Cryptocurrency framework coming into effect (End of Feb)
- New Player Protection Laws (In action since 12 Jan)
- ESG Code of Good Practice voluntary group for remote gaming (Research Stage)
- Excellent performance stats released for Jan-Jun 2022
Round Up of Organisations MGA Says Have No Connection with the Licensing Authority!
Just to round up today’s news covering all things MGA, there is the small matter of online casinos and sports books claiming to hold an MGA licence. They do this by placing the Malta Gaming Authority licensing logo on their website making the online gambling platform look legit. Check out the accompanying box for the full lists.
Operators Faking MGA Licensing
lotus365.com
lucksports.biz
koboy789.me
frankglass.com
Leave A Comment