The sanction is being imposed upon the company for having breached regulations contemplated by the gaming authority and has been effective since July 16. The MGA claims Evobet has breached regulation 9 (1) of its Gaming Compliance and Enforcement Regulations.
The reasons cited for the license termination include failure to comply with one or more applicable obligations in terms of any regulatory instrument or any other applicable law of Malta; and failure to pay in a timely manner all amounts due to the Authority.
Following Evobet’s failure to comply with these regulations, the MGA invoked article 10, by which the regulator can cancel the authorization of a business that has breached article 9. The Malta Gaming Authority can impose this measure at its sole discretion if seen fit.
Resulting from this cancellation, Evobet Limited is thus “no longer authorized to carry out any gaming operations, register new players or accept new customer deposits” in Malta.
However, the company is still mandated to retain and provide all registered players with access to their player accounts, to refund all funds stand to the credit of players in line with the applicable law, and to settle all outstanding fees that are due to the Authority “immediately.”
The gambling operator first obtained its Malta license almost a decade ago, in 2012. Evobet hasn’t issued a statement on the finished authorization yet.