Zoe Sharp
Earlier this month, the Malta Gaming Authority (MGA) suspended the licenses of Green Feather and SFJL Gambling and canceled EGMIT Elite’s license. Yesterday, The Shift reported that the gambling regulator decided to repeal its decision to suspend Green Feather’s license due to the operator’s prompt action and cooperation. This comes soon after the European Commission began asking questions about the recently-revised Gaming Act.
By suspending Green Feather’s license, the gambling watchdog demonstrated its regulatory authority and commitment to ensuring a safe gambling industry. The MGA, however, has lifted the suspension of the license held by Green Feather – the operator behind popular platforms like bcasino.com, bcasino.in, boocasino.com, boocasino.com, galacticwins.com, and mrfortune.com. This means that the operator can now carry out gaming operations without problems.
MGA Has Taken Its Regulatory Responsibilities Very Seriously
Two weeks ago, the Maltese gambling watchdog issued a suspension notification, listing minor violations related to the late submission of financial information. The MGA wrote that Green Feather failed to submit management accounts and financial statements within the designated timeframe, which led to the regulator’s actions.
Data shows that the regulator took similar moves against six other companies in the initial seven months of the year, while in August alone, the gambling watchdog took three regulatory actions. In February, the MGA canceled one license only. April saw two license cancellations followed by one in May, one in June, and another one in July. Industry experts claim that the flurry of recent regulatory actions could be an attempt by the MGA to enhance credibility in light of the new legislation.
On August 7, the MGA suspended SFJL Holding Limited’s license because the operator violated gambling regulations. The gambling authority explained that the company had failed to report internal changes as required by law. Five days earlier, the regulator canceled EGMIT Elite Limited’s gaming license, stating that the company failed to submit financial information on time, pay due taxes and fees, and meet commitments to players. The MGA also filed a police report and initiated liquidation proceedings as part of the action taken against the company.
The European Commission is to Determine Whether the Maltese Gambling Legislation is Compatible with EU Laws
Before the parliamentary summer recess, Maltese lawmakers passed controversial legislation, which has raised concerns about its compatibility with EU laws. The legislation at issue has garnered attention from the European Union and European Commission, which are now asking the Maltese government to provide more information on the new law.
The new reforms introduced to the Maltese Gaming Act seek to protect MGA licensees from foreign prosecution. Bill No. 55, known as The Gaming Act amendment, also stipulates that Maltese courts should reject recognition or enforcement of any foreign judgments brought against Malta-licensed gambling companies.
The Commission said it was aware of Malta’s draft bill and that further information on the future of the legislation would be available after assessing its compatibility. German Member of the European Parliament Markus Buchheit noted that Malta, which has always been the center of online gambling, recently enacted legislation to prevent residents of other EU states from taking legal action against Malta-based gambling companies illegally operating in their countries. He asked commissioners what steps they intend to take to clamp down on illegal gambling and safeguard players.