MGA Suspends License Of SFJL Holding As It Intensifies Crackdown On Offenders
- SFJL Holding has had its license suspended for violating multiple gaming regulations
- Earlier this month, the MGA revoked the license of another iGaming operator
- The latest sanctions serve as a warning for operators to ensure they are fully compliant with the rules
The Malta Gaming Authority (MGA) has continued its crackdown on erring operators, with SFJL Holding becoming the latest to be penalized by the regulator.
The firm has had its license suspended after violating Malta’s gaming laws, according to the MGA.
SFJL Suspended Indefinitely
SFJL Holding, which holds a Type 2 Gaming Services license and is headquartered in the town of Paola, breached three provisions emanating from Regulation 9 of the Gaming Compliance and Enforcement Regulations (the Regulations).
The first violation, committed under 9 (1) (c) of the Regulations, relates to the firm’s failure to fulfill one or more applicable obligations concerning any regulatory instrument or any other applicable law of Malta.
SFJL also implemented material changes within its business without the knowledge and approval of the MGA which violates 9 (1) (k) of the Regulations. That conduct led to a breach of 9 (1) (j), wherein the MGA identified certain circumstances at SFJL that it would have not approved and should have not happened had the agency been aware of them.
The suspension came into force on August 3, and SFJL is prohibited from conducting any gaming operations while the suspension still stands. The MGA did not disclose any further details about the suspension, including how long it will be in effect. But the authority stated that SFJL may still appeal the decision under Article 43 of the Gaming Act.
MGA Gets Tough on Offenders
The sanction imposed on SFJL comes just less than a week after the MGA cancelled the license of EGMIT Elite Limited for multiple violations of the Regulations. The breaches include failing to comply with an order issued by the regulator, failing to discharge financial commitments for its operations, and failing to meet commitments to customers in a prompt manner.
In June, the MGA also suspended the license of Tipster Limited for violating Malta’s gaming regulations. The suspension came after the firm went insolvent in its home market of Germany.
The MGA has intensified its campaign against offenders in line with its commitment to maintaining regulatory compliance and integrity. With these latest enforcement actions, the authority hopes that Malta-licensed gambling firms can learn a lesson or two and ensure they are fully compliant with the country’s gaming laws