Zona de Azar Malta – MGA Halts SFJL Holding Limited’s Authorization Temporarily

Malta.- 8th August 2023 www.zonadeazar.com The gambling regulator in Malta, the Malta Gaming Authority (MGA), announced a new sanction against a license holder in the country. The regulatory watchdog revealed Friday that it decided to suspend the authorization of SFJL Holding Limited. At the time of the announcement, the MGA said that the authorized company is no longer allowed to conduct any gambling activities. This is in effect throughout the suspension’s operative period, explains the MGA in a statement.

Judging by the latest announcement, the suspension comes after the regulator claimed it uncovered multiple breaches by SFJL Holding Limited. The Authority said that the operator breached multiple provisions within regulatory condition 9 of its established regulations.

The MGA claimed that the operator breached provisions 9 (1) (c), 9 (1) (k) and 9 (1) (j). Describing the alleged breaches, the MGA said that 9 (1) (c) relates to failure to “comply with one or more applicable obligations in terms of any regulatory instrument or any other applicable law of Malta.”

On the other hand, 9 (1) (k) of the regulations refers to failure to seek approval from the MGA for a material change in cases where such approval is required or the failure to notify the gambling regulator for such material change where such notification is needed.

While the suspension prevents SFJL Holding Limited from conducting any gaming operations for the duration of the suspension, the company has the option to file an appeal.

The Gambling Regulator Remains Vigilant

The latest sanction imposed by the MGA comes after last month, the regulator issued another suspension of the authorization of another gambling operator. At the time, the regulator said that it suspended the authorization of Tipster Limited, effectively stopping the licensee from offering gambling activities. This suspension came on the grounds of the company “being wound up” and was in accordance with reg. 9 (1) (f) of the established Regulations, explained the gambling watchdog at the time.

Before that, in June, the MGA imposed a tough regulatory sanction against the Malta-based iGaming and betting operator, MKC Limited. The tough sanction was a cancellation of the operator’s license, which effectively stopped it from providing online betting and gaming activities. The sanction came during a difficult time for MKC after its Betworld247 brand was asked to exit the regulated gambling market in the Netherlands.

Edited by: @MaiaDigital www.zonadeazar.com