The Malta Gaming Authority revealed that it has revoked the license of Evobet Limited. The reasons for the cancellation are laid on MGA’s site as the inability on the operator’s side to abide by the gambling regulations and pay its regulatory fees. Thus the MGA has referred to article 10 from the Gaming Compliance and Enforcement Regulations to justify revoking the license.
Evobet Has Breached MGA’s Regulations
This cancellation has been in effect since July 16 and targets Evobet.com’s parent company Evobet Limited. The business has worked in breach of the Gaming Compliance and Enforcement Regulations and has failed to uphold Article 9 (1-c), which states:
“The Authority shall have the power to suspend an authorization in the following instances:
(c) An authorized person has failed to comply with one or more applicable obligations in terms of any regulatory instrument or any other applicable law of Malta”.
MGA elaborates that Evobet had failed to pay all amounts due to the Authority in a timely manner. Because of this, the MGA appealed to Article 10 of the Gaming Compliance and Enforcement Regulations that reads:
“The Authority shall have the power to cancel an authorization in the following instances:
(a) One of the grounds for suspension envisaged in regulation nine arises, and the Authority, in its sole discretion, determines that cancellation of the authorization is the most appropriate measure.”
In short, Article 10 allows the MGA to void the license of a business that has breached the obligations imposed by article 9. As described, this last-resort measure is only allowed when the regulatory body determines that it is the only appropriate regulatory move.
Ending a Decade-Long Reign
Evobet will now have to cease its operations in the country. This includes operating gambling games and events, registering new players, and accepting bets from customers. However, Evobet is required by law to keep give all registered players a period where they have the chance to enter their accounts and withdraw any money they have deposited.
Evobet is required to refund all funds standing to the credit of players in line with the applicable law and to settle all outstanding fees that are due to the Authority immediately.
This license cancelation will mark the end of Evobet’s almost decade-long presence in Malta. The gambling operator had been active in the country since first getting its license in 2012.
At the time of this writing, Evobet hasn’t released a statement on its license cancellation.