Earlier this month, the MGA issued a notice of cancellation against DGV – which operates the the AurumPalace and FlipperFlip brands – after ruling that the operator breached a series of regulations.
These included rules on licence fees, with DGV having failed to pay an agreed licence fee of €25,000 (£21,134/$25,045) for the period between 23 November 2021 and 22 November 2022.
DGV also failed to pay compliance contribution fees – dating back to December 2021 – to the regulator.
In addition, the regulator said DGV failed to submit a set of audited financial statements for the period from January 2020 to December 2020 within a 180-day period.
Finally, DGV was found to have failed to submit interim financial statements covering the period from 1 January 2021 and 30 June 2021 by a set deadline.
DGV was given 20 days from the date of the notice (4 August) to respond to the decision with a reason as to why the MGA should not proceed with the cancellation.
However, with this deadline having now passed, the MGA proceeded with the cancellation of the operator’s licence.
DGV will have 20 days from 24 August to file an appeal over the cancellation before the Administrative Review Tribunal.
Original article: https://igamingbusiness.com/legal-compliance/malta-regulator-confirms-cancellation-of-dgv-entertainments-licence/
