The Malta Gaming Authority announced on Thursday that it has decided to cancel the authorization awarded to DGV Entertainment Group, which runs AurumPalace and FlipperFlip brands, based on specific regulations of the Gaming Compliance and Enforcement Regulations. More specifically, the company's license in the country has been canceled after the operator failed to make license and compliance fee payments.
According to MGA, the operator breached specific terms of Regulation 3 of the Gaming Licence Fees Regulations. "The authorized person failed to pay to the Authority the applicable license fee for the year 2021, pertaining to the period between 23 November 2021 and 22 November 2022, amounting to a total of twenty-five thousand euro (€25,000)."
To date, this fee has not yet been paid by the Authorised Person and remains outstanding and due to the Authority," the MGA added. Furthermore, the Authority says DGV was found in breach of Regulation 3 and Regulation 6 of the Gaming Licence Fees Regulations as it failed to pay a total amount of €10,333 for applicable compliance contributions for the period from December 2021 to the present day.
Moreover, the company breached Article 41 of the Gaming Authorisations and Compliance Directive by failing to submit a set of audited financial statements for the period from January 2020 to December 2020 within the allotted 180-day period, as well as by failing to submit interim financial statements covering the period from 1 January 2021 and 30 June 2021 by a 30 August 2021 deadline.
The MGA stated that DGV will have 20 days (starting August 4) to show cause why the MGA should not proceed with the cancellation and to settle the aforementioned outstanding dues. Should the company fail to do as required within the stipulated timeframe, the regulator is set to proceed with the enforcement measures. DGV had been operating the AurumPalace and FlipperFlip brands under the license.