The Malta Gaming Authority (MGA) has canceled Field of Fortune Limited’s gambling license in the country after finding that the group violated certain regulations relating to license fees. The cancellation is effective as of June 28 this year, with Field of Fortune no longer able to operate under the MGA license.
MGA said the company violated regulation nine of Malta’s Gaming Compliance and Enforcement Regulations, which refers to the requirement that licensees make payments to the regulator.
Specifically, regulation nine covers an operator’s failure to make license payments to MGA, as well as ensuring that all such fees are paid in a timely manner. The MGA claims that Field of Fortune will be required to settle all outstanding fees to the regulator immediately.
Malta Gaming Authority also suspended BIB Limited’s license
Last week, the MGA also announced that it had canceled the license of sports betting company BIB Limited, which operates the Bet It Best brand. The MGA issued the initial notice of cancellation on December 22, 2021 and provided the BIB with a 20-day period to show why the authority should not proceed with enforcement measures.
The MGA went on to assert that the BIB made allegations that the authority deemed sufficient to grant additional time to rectify the violations described in the initial notice. The BIB, however, was unable to make the necessary changes within the new period provided.
Subsequently, the BIB was instructed to suspend all gambling operations with immediate effect, file all outstanding reporting requirements, settle any debts, and remove any reference to the MGA or gaming authorization in its marketing or other forms of communication.