The Malta Gaming Authority (MGA) announced on Monday that it has decided to cancel the authorization awarded to Magic Services Limited effective as of 10 May 2021 in terms of specific regulations of the Gaming Compliance and Enforcement Regulations.
Magic Services Ltd 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.
According to MGA, this sanction is being imposed because Magic Services breached specific terms of Regulation 9 of the Gaming Compliance and Enforcement Regulations.
“The Authorised Person failed to pay to the Authority the annual licence fee covering the period between 01 August 2020 to 31 July 2021, and the relevant compliance contribution fees pertaining to the licence numbered MGA/B2C/149/2007, amounting to a total of seventy-one thousand and thirty-five euro and fifty-four cents (€71,035.54), in contravention of Regulation 3 of the Gaming Licence Fees Regulations,” the MGA quoted from the breach regulations.
The MGA also stated that this decision may be subject to an appeal in terms of article 43 of the Gaming Act. The company may exercise its right to show cause why the MGA should not proceed with the imposition of the enforcement measure within 20 days starting May 10.