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On Thursday, the Malta Gaming Authority (MGA) announced it is cancelling the licence belonging to DGV Entertainment Group, operators of online casino brands AurumPalace and FlipperFlip.

The 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.

In view of the above, the MGA slapped DGV Entertainment Group with a notice of cancellation, providing the company 20 days’ chance to make submissions as to why the regulator should not proceed wit the licence cancellation.

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