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Field of Fortune's licence is revoked for nonpayment

The Malta Gaming Authority (MGA) has revoked Field of Fortune Limited's gaming licence in the nation after concluding that the company violated various laws concerning licencing payments.

As of the 28th of June this year, Field of Fortune is no longer permitted to operate under its MGA licence.

According to the MGA, Field of Fortune violated rule nine of Malta's Gaming Compliance and Enforcement Regulations, which requires licensees to make payments to the regulator.

In particular, rule nine addresses an operator's failure to pay licence fees to the MGA, as well as ensuring that all costs are paid on time.

The MGA stated that Field of Fortune must now promptly settle all overdue costs owing to the regulator.

The MGA said last week that it had revoked the licence of sports betting company BIB Limited, which operates the Bet It Best brand.

The MGA stated that it issued the initial notice of cancellation on 22 December 2021 and gave BIB 20 days to demonstrate why the authority should not proceed with enforcement procedures.

The MGA went on to say that BIB submitted arguments that the authority thought acceptable to extend the deadline for correcting the violations highlighted in the original notification. BIB failed to make the necessary changes within the allotted time frame.

Subsequently, BIB was instructed to immediately halt all gaming activities, submit all outstanding reporting obligations, settle all overdue dues, and erase any references to the MGA or gaming authorization from its marketing and other communications.


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