The Malta Gaming Authority has now confirmed the cancellation of DGV Entertainment Group Limited’s gaming license. The regulator had initially announced it would be terminating the license earlier this month after the operator failed to make license and compliance fee payments, but gave the company 20 days to appeal and settle the outstanding dues. However, DGV has now failed to do so, and will see its permit to offer gambling voided.
“DGV Entertainment Group Limited was provided with a twenty-day time period within which it had the right to show cause as to why the Authority should not proceed with the enforcement measure […],” the regulator explained on Wednesday. “[DGV], however, failed to make its submissions to the Authority within the stipulated time period.”
The MGA has now notified the company that its authorization to conduct gaming has been canceled. DGV, which runs the AurumPalace and FlipperFlip brands, has also been directed to suspend all gaming operations with immediate effect and cease to register any new players; and to settle all outstanding fees that are due to the regulator, which amounts to a total of €36,300, “within a period of five working days.”
Additionally, as the company is no longer authorized by Malta’s regulator, DGV must remove, “with immediate effect,” any reference to the Authority and the authorization it used to have, in accordance with Malta’s Gaming Act.
“[DGV] shall comply with the above-listed actions by not later than seven (7) days from the date of receipt of this letter,” the MGA noted. “[DGV] shall remain liable for all applicable obligations emanating from the Act and any other applicable regulatory instrument.”
The company has the right to file an appeal before the Administrative Review Tribunal within 20 days from the date of publication of the cancellation. The Authority reserves the right to take any other measures pertinent to it at law in order to recover the outstanding dues from the company should the latter fail to rectify accordingly.
The notice of cancellation issued earlier this month noted that DGV had failed to pay an agreed license fee of €25,000 for the period between 23 November 2021 and 22 November 2022; and that the company had also failed to pay compliance contribution fees –dating back to December 2021– to the regulator.
The regulator also said at the time DGV had failed to submit a set of audited financial statements for the period from January 2020 to December 2020 within a 180-day period; and the company 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.
Original article: https://www.yogonet.com/international/news/2022/08/25/63970-malta-39s-regulator-confirms-the-cancellation-of-dgv-entertainment-39s-gaming-license-over-unpaid-fees
