The Malta Gaming Authority announced the suspension of Arabmillionaire Limited for breaching the Authority’s regulations which include failure to comply with regulatory requirements and to disclose financial commitments of its operations, breach of regulations to prevent money laundering and failure to pay dues to the Authority.
UAE-based Arabmillionaire Limited is no longer authorised to continue operations in the jurisdiction. This enforcement also prohibits the registration of new players and accepting customer deposits. The B2C online gaming and lotto operator is required to refund player’s credits however has been given the right to appeal the regulator’s decision within 20 days.
This is the sixth enforcement action taken by the Malta Gaming Authority in 2022.
ADVERTISEMENT
Continue Reading
Continue Reading
Pjazza 1902: New hotspot blends community engagement and B2B offerings
The entertainment hub, which has recently opened in Pembroke after a lengthy period of meticulous restoration, serves up a gamut of dining, fitness, business and leisure opportunities
Regulatory
Gavin Isaacs steps down as Games Global chairman to take on new role as Entain CEO
His appointment comes into effect from September 2024, and will see him remain on the board of Games Global as an independent non-executive director
Regulatory
Third-largest cryptocurrency exchange OKX selects Malta as its MiCA hub
Under the MiCA framework, OKX plans to offer spot trading (including EUR and USDC pairs) in addition to buy, sell, convert and staking services to qualified EU residents through Okcoin Europe Ltd
Regulatory
GO’s Enterprise Solutions geared to deliver end-to-end business technology
The telecoms firm prioritises holistic and scalable solutions for its corporate clients, says Arthur Azzopardi, Chief Officer at GO Business.