Home > Legal & compliance > Legal > Malta regulator cancels EGMIT Elite licence
The Malta Gaming Authority (MGA) has cancelled EGMIT Elite Limited’s B2C gaming service licence with immediate effect.
EGMIT Elite had been operating its Elite24bet site via the licence, but must now cease all operations.
According to the MGA, EGMIT Elite breached several of the country’s Gaming Compliance and Enforcement Regulations. This centred on regulation 9 (1), with the MGA flagging sub-sections (b), (c), (d), (i), (l) and (m).
The MGA said EGMIT Elite failed to comply with an order issued by the authority, breaching section (b). It also failed to comply with section (c) by not adhering to certain regulations and laws.
A breach of section (d), which relates to a failure to discharge financial commitments for its operations, was noted. As was section (i), which requires licensees to meet commitments players in a timely manner.
The MGA also flagged section (l), in relation to the late payment of fees to the regulator. In addition, the regulator referenced section (m), which allows it to suspend a licence if there is sufficient material and reason.
EGMIT Elite faces police action and liquidation
Withdrawal of the licence means the operator is no longer authorised to carry out gaming operations under the MGA licence. It must remove any reference to approval from the Malta regulator.
EGMIT Elite has the option to appeal against the decision in line with article 43 of the Malta Gaming Act.
However, the MGA also noted that such was the manner of the breaches, it has filed a police report against the operator. In addition, the regulator has initiated liquidation proceedings.
Elite24bet customers are advised to contact the MGA with any concerns about the ruling.
Source: Read Full Article