he Malta Gaming Authority (MGA) has decided to cancel the authorisation awarded to Bimbabet Limited effective as of 6 April 2020 in terms of regulation 10 of the Gaming Compliance and Enforcement Regulations.
Therefore, Bimbabet Limited is 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.
This sanction is being imposed upon Bimbabet Limited for having breached specific terms of regulation 9 of the Gaming Compliance and Enforcement Regulations.
“The authorised person has failed to comply with one or more applicable obligations in terms of any regulatory instrument or any other applicable law of Malta in that the Authorised Person has i) failed to provide the Authority with the key functions list, ii) has failed to submit the Audited Financial Statements for the year 2018 and Interim Financial Statements for the year 2019,” the MGA quoted from the breached regulations.
And it added: “The authorised person has failed to pay in a timely manner all amounts due to the Authority in that the Authorised Person has failed to pay the relevant annual licence fees and/or compliance contribution fees.”
The MGA also stated that this decision may be subject to an appeal in terms of article 43 of the Gaming Act.