MGA Cancels Playbay Malta Licence

After the regulator found ‘systemic deficiencies’ in its compliance with AML / CFT obligations, the Malta Gaming Authority (MGA) cancelled the licence of Playbay Malta Limited, which runs

Playbay Malta will no longer be allowed to perform any gaming operations, register new players or accept new customer deposits as part of the ruling.

However, the regulator clarified that all registered players will be expected to maintain and provide access to their player accounts to all registered players, and all funds standing on player credit in compliance with the relevant law will be refunded.

In its declaration, the MGA stated that the voluntary suspension of the operator’s B2C fixed-odds betting licence had expired on 6 September 2020, without the licensee having given a timetable ‘of when and how it intends to reactivate such a license.’

The MGA announced earlier this year that it had revoked 11 licences during 2019, and cancelled a further 14 ‘following various regulatory breaches’.

The MGA reported in its Annual Report and Financial Statements for the financial year ended 31 December 2019 that, as the regulator continues to crack down on non-compliance, it released 20 warnings, 89 notices of violation and 23 administrative fines throughout the year.