The Malta Gaming Authority (MGA) has announced the cancellation of its authorization to two online casino website operators, CZ Trading and Cyberslotz.
The companies had been working in partnership, providing the DrVegas.com website under a B2C Gaming Service Licence.
However, the MGA has found both to be in contravention of regulation nine of Malta’s Gaming Compliance and Enforcement Regulations, meaning the companies have failed to pay relevant regulatory fees to the authority for their operations.
As such, the companies are thus no longer permitted to carry out gaming operations, register new players, or accept customer deposits.
They are, on the other hand, required to retain and prove all registered players with access to their player accounts, to refund all funds standing to the credit of players, and settle outstanding fees to be paid to the authority immediately.
The MGA has, only last week, reported a significant decline in revenue during 2020, as the effects of the COVID pandemic saw a 5.3 per cent decline in revenue year-on-year compared to 2020.
Aside from the cancellation announcement, the MGA has also this week disassociated itself from two websites: bwin8998.com and bwin6996.com.
Both websites erroneously claim to be licensed by the authority.
GREF is a forum for European gaming regulators, serving as a meeting place and exchanges of views between its members
The new service will handle a variety of currencies, with payments being made in over 100 countries around the globe
Olga is tasked with working closely with the company’s existing partner network, as well as landing further agreements with operators in key regulated regions