The Malta Gaming Authority (MGA) has cancelled the authorisation given to Egmit Elite Limited, following an investigation into unethical and illegal business practices.
Egmit Elite owned and operated the online platform, Elite24bet Casino, which was launched in 2020.
In its report, the MGA confirmed that Egmit Elite breached several points of Regulation 9 (1), including the following:
Failure to comply with an order issued by the Authority; Failure to comply with one or more applicable obligations in terms of any regulatory instrument or any other applicable law of Malta; Failure to discharge financial commitments for its operations; Failed to meet commitments to players in a timely manner; Failed to pay in a timely manner all amounts due to the Authority;
Due to these, the MGA decided: “The Authority, in its sole discretion, has determined that there is material and sufficient reason for suspending the authorisation” and “One of the grounds for suspension envisaged in regulation 9 arises and the Authority, in its sole discretion, determines that cancellation of the authorisation is the most appropriate measure.”
Egmit Elite owned and operated the online platform, Elite24bet Casino, which was launched in 2020.
In its report, the MGA confirmed that Egmit Elite breached several points of Regulation 9 (1), including the following:
Failure to comply with an order issued by the Authority; Failure to comply with one or more applicable obligations in terms of any regulatory instrument or any other applicable law of Malta; Failure to discharge financial commitments for its operations; Failed to meet commitments to players in a timely manner; Failed to pay in a timely manner all amounts due to the Authority;
Due to these, the MGA decided: “The Authority, in its sole discretion, has determined that there is material and sufficient reason for suspending the authorisation” and “One of the grounds for suspension envisaged in regulation 9 arises and the Authority, in its sole discretion, determines that cancellation of the authorisation is the most appropriate measure.”
