The Malta Gaming Authority announced on Thursday that it has canceled the authorization awarded to EGMIT Elite Limited, which runs the Elite24bet brand, based on specific breaches of the Gaming Compliance and Enforcement Regulations.
According to MGA, the operator breached specific terms of Regulation 9 of the Gaming Licence Fees Regulations, including failure to comply with an order issued by the authority, as well as failing to adhere to certain regulations and laws.
The regulator further pointed out breaches related to a failure to discharge financial commitments for its operations; failure to meet commitments to players promptly; and failure to pay fees promptly.
“The Authority, in its sole discretion, has determined that there is material and sufficient reason for suspending the authorization,” said the regulator. “One of the grounds for suspension envisaged in regulation 9 arises and the Authority, in its sole discretion, determines that cancellation of the authorization is the most appropriate measure.”
Withdrawal of the license means the operator is no longer authorized to carry out gaming operations under the MGA license. The former licensee must remove any reference to approval from the Malta regulator with immediate effect. Elite24bet customers are advised to contact the MGA with any concerns about the ruling.
The MGA stated that EGMIT Elite has the option to appeal against the decision in line with Article 43 of the Malta Gaming Act. However, the regulator also noted that such was the manner of the breaches, it has filed a police report against the operator. In addition, the regulator has initiated liquidation proceedings.
Original article: https://www.yogonet.com/international/noticias/2023/08/04/68200-malta-gaming-regulator-cancels-egmit-elite-license-over-unpaid-fees-other-breaches
