SBC News MGA terminates Evobet licence for compliance and business duty failures

MGA terminates Evobet licence for compliance and business duty failures

The Malta Gaming Authority (MGA) has disclosed that it has invoked article-10 of its ‘Gaming Compliance and Enforcement Regulations to cancel the licence of Evobet Limited.

The cancellation has been effective since 16 July, imposed on Evobet Limited the licence holding business of pan-European online sportsbook and casino brand Evobet.com – that has operated under an MGA licence since 2012.

The MGA’s enforcement notice cited that Evobet had breached conditions of article-9 of the Malta Gaming Law’s compliance and enforcement regulations.

Under article-9, Evobet was deemed to have failed to comply with ‘one-or-more applicable obligations’ as an MGA licence holder that is required to obey Malta’s business laws.

A further caution outlined that Evobet had ‘failed to pay in a timely manner all amounts due to the Authority’.

Evobet concerns, saw the MGA invoke article-10 of its enforcement regulations, by which the regulator can ‘cancel the authorisation of a business’ deemed to have breached its article-9 compliance obligations.

Article-10’s business cancellation can be imposed at the ‘sole discretion’ of the MGA if the measure is determined to be the most appropriate regulatory action.

As a result, Evobet is ‘no longer authorised to carry out any gaming operations, register new players or accept customer deposits.’

Concluding its notice, the MGA has instructed Evobet ‘to provide all registered players with access to their player accounts, to refund all funds standing to the credit of players in line with the applicable law and to settle all outstanding fees that are due to the Authority immediately’.

SBC News MGA terminates Evobet licence for compliance and business duty failures

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