03.08.2023

by Mateusz Mazur

MGA Cancels License for Egmit Elite Limited

The Malta Gaming Authority (MGA) has taken decisive action against Egmit Elite Limited, the operator of Elite24bet Casino, by revoking its authorization due to numerous breaches of Regulation 9(1) of the Gaming Compliance and Enforcement Regulations. The MGA’s investigation revealed serious violations committed by Egmit Elite, leading to the termination of their license to operate in Malta.

Several violations

The violations reported by the MGA include a failure to comply with orders issued by the Authority, a disregard for applicable obligations specified in regulatory instruments and other Maltese laws, and an inability to fulfill financial commitments related to its operations. Additionally, Egmit Elite was found to have failed in meeting its commitments to players in a timely manner, as well as neglecting to pay the required amounts to the Authority promptly.

As a result of these severe breaches, the MGA determined that there were significant and valid grounds to suspend and ultimately cancel the authorization granted to Egmit Elite. The decision was made at the sole discretion of the Authority, taking into account the gravity of the violations.

Following the cancellation of its authorization, Egmit Elite will no longer be permitted to conduct any gaming operations under the MGA license. The company is required to immediately remove any references to the MGA from its operations and communications.

Taken down of Elite24bet Casino

The MGA’s action was carried out in accordance with Regulation 12, and Egmit Elite has the right to appeal this decision within the parameters of article 43 of the Gaming Act (Chapter 583 of the Laws of Malta).

In response to these transgressions, the MGA has taken further steps by filing a police report against the casino and initiating liquidation proceedings.

As a result of these measures, the Elite24bet Casino website has been taken down, and players who were registered on the platform are advised to contact the MGA for any inquiries or assistance.

The MGA’s decision to cancel Egmit Elite’s authorization reflects the Authority’s commitment to upholding stringent regulations and protecting players’ interests within the gaming industry.

Related posts