The Malta Gaming Authority (MGA) has , following a long trail of unpaid dues. Once active in the iGaming space, the company now finds itself out of the game after failing to settle material breaches of its financial obligations.
A long-running debt
Oddsfly’s licence troubles date back several years. Initially granted under MGA/B2C/260/2014, after the company failed to pay three years’ worth of annual fees, amounting to €75,000. Another €29,814.52 in unpaid compliance contributions brought the total to just over €104,800.
The MGA, in a formal notice issued under the Gaming Compliance and Enforcement Regulations (S.L. 583.06), made it clear that the conditions which led to the original suspension had not been resolved. The regulator cited “material breaches of regulatory obligations” and confirmed that Oddsfly was repeatedly warned to settle its debts but failed to do so.
As the MGA stated, “Failure to submit representations within the stipulated timeframe and/or failure to regularise its position in accordance with the applicable legal framework, shall result in the Authority proceeding with the cancellation of the licence and any other enforcement measures as deemed necessary”.
The MGA said the company was given repeated warnings and a chance to put things right, but those efforts fell short. In a formal notice issued under the Gaming Compliance and Enforcement Regulations (S.L. 583.06), the regulator stated that Oddsfly’s position remained unresolved, prompting the move from suspension to complete cancellation.
“The Authority expressly reserves the right to initiate any other proceedings, or enforcement measures it deems appropriate in relation to the outstanding dues,” the MGA said, warning that interest on the unpaid balance would continue to accrue.
How Malta handles non-compliance
The MGA doesn’t jump straight to cancellation. First, it issues a formal warning and if the situation remains unresolved, the licence is suspended. From there, operators usually have a window of time to rectify issues before the licence is permanently revoked. In Oddsfly’s case, that window came and went.
And Oddsfly are not alone. Other names like Tipbet Limited and Goldwin Limited have also lost their licences after falling behind on payments or breaching key regulatory conditions.
What it means for the industry
The cancellation comes during a period of evolution for Malta’s gaming framework. The regulator continues to enforce its rules firmly, but it also shows signs of encouraging industry growth. Earlier this month, the MGA granted a licence to Two Shepherds, which has since launched Jackpot Lounge, a new 바카라 powered by White Hat Gaming’s platform.
The MGA has shown it’s prepared to take action when rules aren’t being followed whilst continuing to approve new licences, attempting to keep standards high while allowing room for growth.
