Malta Gaming Authority (MGA) has issued a Notice of Cancellation to Magic Services Limited, following the expiry of a twenty-day period where the company had the right to show cause as to why the Authority should not proceed with the enforcement measure.
The cancellation comes as a result of the company failing to pay the Authority its annual license fee covering the period between 1st August 2020 and 31st July 2021, amounting to a total of €71,035.54.
“In light of the above, the Authority is hereby notifying the Authorised Person that pursuant to the Notice, the Authorisation bearing the number ‘MGA/B2C/149/2007’… shall be cancelled in terms of the Regulations”.
Despite the cancellation, the Authorised Person remains required to settle the late fees, “within a period of five working days” from the publication of the notice.
In the meantime, the MGA directs the relevant Authorised Person at Magic Services Limited to suspend all gaming operations with immediate effect and cease to register any new players in terms of the Authorisation.
Amongst other steps, they are also required to notify players, if any, of the cancellation of the Authorisation, via their website, as well as via electronic mail. The notification is required to include the manner in which players are able to withdraw funds held by the Authorised Person.
Funds must be remitted to former customers not later than five working days from when the player makes such a request, then the company must submit to the Authority a transaction report extracted from its back-end system, together with supporting bank statements showing that all player funds have been duly remitted to registered players.
The company, which was registered by the MGA as being based on Psaila St, Birkirkara, was licensed to provide both Type 1 and Type 2 Gaming Services, for live casino betting and fixed odds betting.
Both websites associated with the company’s license are now defunct.
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