SBC News Malta MGA follows UKGC lead suspending Stakers.com

Malta MGA follows UKGC lead suspending Stakers.com

The Malta Gaming Authority (MGA) follows the UK Gambling Commission (UKGC) in suspending the B2C licence of incumbent Stakers Limited, operator of Stakers.com

Issuing a statement on 10 March, the MGA declared an immediate ‘enforced suspension’ of Stakers licence, prohibiting the operator from servicing any wagering activities under its jurisdiction.

“Stakers Limited is thus no longer authorised to carry out any gaming operations, register new players or accept new customer deposits, but is required to retain and provide all registered players with access to their player accounts, and to refund all funds standing to the credit of players in line with the applicable law.” The MGA details in its enforcement statement.

Citing ‘a number of compliance issues’ on 5 March, the UKGC sanctioned an ‘interim suspension’ of Stakers UK licence, enforcing section 116 and 118 of the Gambling Act 2005.

In its enforcement note, the UKGC detailed that it had suspended Stakers as an operator ‘unsuitable to carry on the licensed activities’ and placing the incumbent’s licence ‘directly under review’.

Responding to the suspension, Stakers management have publicly criticised the UKGC’s decision on its website, asking players to sign a change.org petition citing the All-Party Parliamentary Group (APPG) recent description of the UKGC as ‘Not Fit For Purpose?’

Switzerland-based Stakers maintains that player funds are secure and fully protected.

“This sanction is being imposed upon Stakers Limited in light of the suspension of their United Kingdom licence, thus the recognition thereof for its use in/from Malta is equally suspended.” The MGA cites closing its statement.

SBC News Malta MGA follows UKGC lead suspending Stakers.com

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