MGA suspends SFJL gaming licence
The Malta Gaming Authority (MGA) has suspended SFJL Holding Limited’s gaming licence.
Effective immediately, SFJL has had its Type 2 Gaming Services licence in Malta suspended for an undisclosed period by the Maltese regulator.
Compliance breaches
The MGA has stated that SFJL has breached numerous sections of Malta’s Gaming Compliance and Enforcement Regulations. Specifically, regulation 9(1)(c), (k) and (j).
The main infringement covers failure to comply with regulatory instrument obligations and several additional applicable laws.
SFJL has also been flagged for further failures related to the licensee’s obligation to seek the regulator’s approval over certain material changes within the business.
The final section mentioned also acknowledges that if the regulator had been aware of certain circumstances, it would not have granted authorisations for many practices being undertaken by the operator.
Specific examples were, however, omitted from the MGA’s statement.
The suspension
Although SFJL has the right to appeal the decision, a suspension is currently being enforced by the MGA, which stipulates that the operator is prohibited from conducting gaming operations for as long as the suspension remains in place.
A regulatory crackdown
This suspension comes in lieu of a regulatory crackdown from the MGA that has already led to Elite24Bet being fully relieved of its licencing rights earlier in the year.
This forced Elite24Bet to cease all operations from and facing the Maltese islands, with the regulator citing breaches of the Gaming Compliance and Enforcement Regulations as reasons for the cancellation.
What’s more, the MGA even filed a police report against Elite24Bet, despite the cancellation already prompting liquidation proceedings.
These actions show a clear and obvious intention from the MGA, which is continuing to prove its commitment to maintaining gaming standards and protecting consumers of gaming products.
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