MGA continues with the termination of the Arabmillionaire license.

The Malta Gaming Authority (MGA) has scrapped Arabmillionaire's gaming license because they repeatedly broke the rules. The license had been put on hold last year.

The MGA warned Arabmillionaire about these issues but they didn't fix them. The problems included not following MGA instructions, following money laundering laws.

Arabmillionaire claimed they were making big changes and asked to pause their license to fix things. So, the license got put on hold last October. But even after 12 months, the MGA says Arabmillionaire still didn't fix their problems. They didn't cooperate with the MGA or respond to messages, and they kept breaking the rules.

The MGA told Arabmillionaire to pay what they owe, like €25,000 from June 13, 2022, and the same from June 13, 2023, within five days after the cancellation notice.

 

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The termination of Arabmillionaire's gaming license by the Malta Gaming Authority (MGA) comes as a result of repeated violations of the rules and regulations set forth by the MGA. This decision follows the suspension of Arabmillionaire's license that took place last year, indicating a history of non-compliance and failure to rectify the issues.

The MGA had previously warned Arabmillionaire about the various infractions, which included not adhering to MGA instructions and not complying with anti-money laundering laws. Despite being given ample opportunity to rectify the situation, Arabmillionaire failed to take the necessary steps to address the concerns raised by the MGA.

In response to the allegations, Arabmillionaire reportedly claimed to be implementing significant changes and requested that their license be put on hold in order to rectify the issues. However, even after a year-long hiatus, the MGA has stated that Arabmillionaire did not make the necessary improvements. Additionally, Arabmillionaire's lack of cooperation with the MGA and their failure to respond to inquiries further compounded the situation.

In light of these ongoing issues and the continued violations, the MGA has demanded that Arabmillionaire settle outstanding financial obligations, specifically requiring the payment of €25,000 from June 13, 2022, and the same amount from June 13, 2023, within five days of receiving the cancellation notice.

By taking such strict measures, the MGA is asserting its commitment to enforcing compliance and maintaining the integrity of the gambling industry in Malta. This decision serves as a reminder to all license holders that deviations from the rules and a lack of cooperation will not be tolerated, ensuring the protection of players and the reputation of the regulatory authority.