Betago forced into liquidation after MGA revokes licence

A Malta-licensed gaming operator has been shut down by court order following regulatory breaches, unpaid fees, and complaints from players unable to access their funds.

Betago Limited, based in St Julian’s, had its licence cancelled by the Malta Gaming Authority (MGA) in January 2024, after being suspended the year before. The regulator had given the company seven days to settle outstanding dues and return player balances, while also filing a court request to dissolve the business.

Court filings show Betago owed €85,000 in unpaid compliance and licensing fees to the MGA. The company also failed to submit audited financial statements for 2020 and 2021, breaching regulatory requirements.

The situation was compounded by governance issues. Directors Iosif Galea and Marie Therese Spiteri resigned in late 2021 and early 2022, leaving the company without a board for longer than the six-month legal requirement.

More than 20 players filed complaints with the MGA, claiming they could not access a combined €24,500 in deposited funds.

The regulator also found that key player data was held by German service provider MCON Germany GmbH, which was itself owed €159,688 by Betago and had withheld access pending payment.

Mr Justice Ian Spiteri Bailey upheld the MGA’s request to place the company into liquidation.

A court-appointed liquidator will now take control of Betago’s assets, verify outstanding claims, and oversee the process of returning funds to affected players. All legal and administrative costs will be covered by the company.

Image: Malta Courts, WikiCommons