The Malta Gaming Authority has announced that it has suspended the license of SFJL Holding Limited following several breaches of local gaming regulations.
According to the MGA statement, the SFJL broke rules relating to changes within the company that it failed to notify the regulator of. The statement did not say how long the suspension would continue.
The MGA has also moved to suspend the license of Green Feather which operates under a B2C Gaming Service License. The company owns and operates bcasino.com, bcasino.in, boocasino.com, boocasino.co, galacticwins.com and mrfortune.com. According to the suspension notice, all gaming activity related to these sites must cease immediately.
An investigation found that Green Feather breached several sections of the country’s Gaming Compliance and Enforcement Regulations. The main breaches were related to the submission of financial information to the regulator. The MGA noted that management accounts and financial statements were not submitted within the required timeframe
The suspension requires Green Feather to cease all gaming operations and to refund credit to all players.
Both companies have the option appeal their suspensions.
EGMIT Elite’s license cancelled
On August 2nd, the MGA announced that it had cancelled EGMIT Elite Limited’s B2C gaming service licence. The company operates Elite24bet site through this license. However, following several breaches of Gaming Compliance and Enforcement Regulations, the MGA moved to cancel its license due to the seriousness and nature of the breaches.
The breaches included failing to submit financial information on time, failing to pay due taxes and fees, and failing to meet commitments to players in a timely manner.
As part of the action taken against the company, the MGA filed a police report and initiated liquidation proceedings.
Based in London, Natasha is a former sports journalist with experience working for some of the biggest athletes & brands in the world of sports and iGaming.