The Maltese iGaming regulator took action against DGV after it failed to make the necessary licence and compliance fee payments.
The MGA first issued the notice of cancellation earlier this month after flagging a number of breaches.
DGV Group secured a licence with Malta’s gambling regulator in 2019 within the B2C category to provide ‘Type 1 Gaming Services’. The company, who’s shareholding is evenly split between Russian nationals Denis Volodin and Galina Volodina, was identified by the regulator of having a total of four breaches to the conditions of its licence.
The MGA said it failed to pay the authority the applicable licence fee for the year 2021, pertaining to November 2021 – November 2022, amounting to €25,000.
The company was also found to have repeatedly failed to pay applicable compliance contribution fees to the authority, amounting to €10,333.
To date, the authorised person within DGV Entertainment Group failed to submit audited set of financial statements for the period covering January to December 2020 within the timeframe stipulated by law.
Lastly, it was found the company failed to submit interim financial statements covering January 2021 to June 2021 by the August deadline.
DGV now have 20 days from 24th August to file an appeal over the cancellation before the Administrative Review Tribunal.
BeyondPlay was founded in 2021 by Karolina Pelc
Carmelo Romano, the former CTO, has transitioned to a consultative role within the company
This latest announcement builds upon a series of recent agreements signed by the supplier
While reporting strong figures, the company experienced a dip in sportsbook revenue