July 19, 2022

Malta Gaming Authority cancels two gambling licenses in a row

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Malta Gaming Authority cancels two gambling licenses in a row

Malta Gaming Authority cancels two gambling licenses in a row

The Malta Gaming Authority (MGA) has recently cancelled the licenses of two gambling operators. This means both businesses can no longer operate under their gaming license.

Bet It Best’s license revoked

Last week the MGA brought out the news that it had revoked the gaming license of sports betting company BIB Limited, which runs the Bet It Best’s brand.

Bet IT Best is an online sports betting platform that delivers news on sports matches from around the world.

The MGA first reached out about the cancellation to BIB Limited on 22 December 2021. The company was then given a 20-day time period to show why the authority shouldn’t revoke their license status.

During the 20-day time period BIB made submissions that the authority deemed sufficient to grant an extended period to rectify the breached that the MGA had outlined in their notice. BIB Limited dint make the necessary changes within time to keep their license.

Due to the fact that their license is revoked BIB was directed to suspend all gaming operations with immediate effect. They are also instructed to settle an outstanding dues and remove every reference to the MGA.

Back in 2017 BIB has claimed the MGA has granted them with the world’s first ever sports brokerage license. BIB Limited had a type 4 gaming license, with approved verticals including pool betting.

Bet It Best’s license revoked

Field of Fortune’s license cancelled for nonpayment

This week the MGA announced another license cancellation. The gaming authority has now cancelled the gaming license of Field of Fortune’s Limited. The reason for the cancellation is stated as breaching certain regulations relating to license fees.

The gaming license of Field or Fortune will be cancelled from 28 June this year, which will make them unable to operate under their MGA license anymore.

According to the MGA the company breached nine of Malta’s Gaming Compliance and Enforcement Regulation, which mainly related to requirements for licensees to make payments to the regulator. The company didn’t make payment for their license as well as ensuring fees are paid in time. According to the MGA Field of Fortune is still required to settle all outstanding fees owned right away.

Field of Fortune’s license cancelled for nonpayment

About Field of Fortune

Field of Fortune is or was a unique game which offers you the chance to discover and scan new lands, discover hidden natural treasures (such as Oil, Gas, Diamond and Gold) and earn REAL money.

Playing Field of Fortune was possible by using your browser. Now the website isn’t available anymore. Apparently, Field of Fortune wasn’t a huge success.

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