MGA revokes two licences for breach of regulations

Simona Boshkova | Published 12 Aug 2021, 9:37 a.m.

The Malta Gaming Authority (MGA) is the gaming control board of Malta. It’s the biggest regulator in that territory which regulates all forms of gambling, including land-based and online. The MGA was established in 2001 to regulate the gaming industry and ensure that all operators follow the legal requirements.

Recently, it was reported that the MGA has cancelled the operating licences of two operators - CZ Trading Limited and Cyberslotz Services Malta Limited. Both operators were found to have breached financial regulations.

Failed to meet financial requirements

Two days ago, the MGA has revoked the licences for both CZ Trading Limited and Cyberslotz Services Malta Limited. Both operators were in breach of regulation 9 (1) which involves the following reasons:

  • They failed to discharge financial commitments to the MGA for their operations;
  • They failed to pay in a timely manner all amounts due to the MGA.

Regarding CZ Trading Limited, the MGA announced that the operator is no longer authorised to carry out any gaming operations, register new players or accept new customer deposits. 

However, CZ is required to retain and provide all registered players with access to their player accounts. It also needs to refund all funds standing to the credit of players in line with the applicable law and to settle all outstanding fees.

On the other hand, Cyberslotz Services Malta Limited is also no longer authorised to carry out any gaming operations. In addition, it is required to settle all outstanding fees that are due to the Authority immediately.

The ruling for both operators came into effect on 17 June.

UKGC reports a decline in online gambling activities for June

In the meantime, another major gambling regulator has come up with announcements. It’s about the UK Gambling Commission (UKGC), which is the biggest gambling regulator in the UK. We’ve recently reported that the UKGC conducted new research about the gambling behaviour of young people. 

Now, the Commission has announced June 2021 data which shows that online gambling activities have reduced. According to the report, there is a decline in the overall online activity for the month.

Namely, gross gambling yield (GGY) decreased by 7%, while the number of total bets decreased by 10%. Slots GGY decreased by 14% to £181m from May to June, while the number of spins decreased by 10%. 

Moreover, the number of online slots sessions that last more than one hour decreased by 9%, and the average session length decreased to 19.3 minutes.

There is still an increase though, and it’s related to the number of active players, which increased by 4%. That is due to the recent European Championship football tournament. 

According to the Commission, the decline is a result of the current situation which involves easement of some restrictions. The UKGC stated that it will continue following the situation and expect operators to follow its guidance.

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Malta Gaming AuthorityResponsible GamblingUK Gambling Commission

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