MGA cancels two licences for breach of regulations
The Malta Gaming Authority (MGA) has cancelled the licences for both CZ Trading Limited and Cyberslotz Services Malta Limited due to a breach of regulations.
Both companies had their authorisations cancelled as of 17 June 2021 after they were found to be in breach of the MGA’s Gaming Compliance and Enforcement Regulations.
Both CZ Trading and Cyberslotz were in breach of regulation 9 (1), which involves the companies failing to discharge financial commitments to the MGA for their operations, and failing to pay in a timely manner all amounts due to the MGA.
“The Authorised Person is thus no longer authorised to carry out any gaming operations, register new players or accept new customer deposits, but is required to retain and provide all registered players with access to their player accounts, to refund all funds standing to the credit of players in line with the applicable law and to settle all outstanding fees that are due to the Authority immediately,” read a statement from the MGA regarding CZ Trading Limited.
Cyberslotz Services Malta Limited meanwhile is “no longer authorised to carry out any gaming operations and is required to settle all outstanding fees that are due to the Authority immediately.”
Source : /www.gamblinginsider.com