07.12.2023

by Mateusz Mazur

Malta Gaming Authority Revokes License of AMGO iGaming Malta Ltd

In a significant move, the Malta Gaming Authority (MGA) has officially cancelled the authorisation of AMGO iGaming Malta Ltd, a notable player in the iGaming industry.

This decision, effective from December 6, 2023, follows the guidelines outlined in regulation 10 (1) (a) of the Gaming Compliance and Enforcement Regulations (S.L. 583.06).

Decisive Action by the Authority

The cancellation, bearing reference numbers MGA/B2C/163/2008, comes as a consequence of non-compliance with specific regulatory requirements. The MGA’s strict adherence to regulations 9 (1) (c), (d), (i), and (I) reflects its commitment to maintaining a fair and secure gaming environment.

In light of this development, AMGO iGaming Malta Ltd is directed to undertake several crucial steps.

Notification to Players: The company must inform players about the cancellation through their website and email. This notification is not just a formality but a crucial step in maintaining transparency and trust.

Guidance on Fund Withdrawals: Players need to be provided with clear instructions on how to withdraw their funds. This guidance is vital to ensure a smooth transition for players affected by this change.

Timely Remittance of Player Funds: AMGO is obligated to process all requests for fund withdrawals within five working days. In cases where players do not request withdrawals, the company must proactively remit these funds.

Compliance with Directives: The company must adhere to the Gaming Authorisations and Compliance Directive (Directive 3 of 2018), particularly regarding inactive and dormant accounts. This includes remitting outstanding balances to the MGA, where applicable.

Resolution of Player Disputes: Any pending disputes must be settled, ensuring that all player concerns are addressed adequately.

Our Comment on the Article

The MGA’s decision to revoke AMGO iGaming Malta Ltd’s license sends a clear message about the seriousness of regulatory compliance in the iGaming sector.

This action underscores the Authority’s commitment to upholding high standards and protecting player interests. For players, this development highlights the importance of choosing platforms that are not just entertaining but also compliant and reliable.

The steps outlined for AMGO in handling this situation reflect a structured approach to ensure minimal disruption for the players while maintaining the integrity of the iGaming industry. This scenario is a potent reminder of the dynamic and regulated nature of the iGaming world, where adherence to legal and ethical standards is not just expected but demanded.

Related posts