The Malta Gaming Authority (MGA) has made the decision to revoke the authorization of SFJL Holding Ltd, effective as of November 8, 2023. This announcement comes after the Authority suspended SFJL Holding’s license in August, preventing the gambling operator from offering its services online.
In response to the cancellation, the gambling operator must immediately remove any reference to the Authority, as per Article 51 of the Gaming Act. Additionally, SFJL Holding is required to settle all compliance contribution fees owed within seven days of receiving the notice from the MGA.
Furthermore, the MGA has directed SFJL Holding to provide transaction reports from their back-end system and relevant bank statements to ensure that all players have received the money owed to them. This requirement also has a seven-day deadline for compliance.
This recent decision by the MGA follows previous actions taken by the Authority. Not long ago, the MGA denied any connections with kaiyin.io, stating that the gambling operator’s claims of being associated with the Authority are false and misleading. Additionally, the MGA issued a notice of license cancellation to AMGO iGaming for breaching regulations on three occasions, allowing the operator 20 days to respond and appeal the decision.
According to the MGA, SFJL Holding has 20 days to appeal the decision before the Administrative Review Tribunal, in accordance with the Gaming Act. This right of appeal ensures that the gambling operator has the opportunity to challenge the Authority’s decision.
Overall, the recent decision to revoke SFJL Holding’s authorization adds to the MGA’s active period of enforcing regulations and ensuring compliance within the gambling industry in Malta.