The Malta Gaming Authority has announced the cancellation of authorization awarded to European Fantasy League effective from 16th December 2020.
While the cancellation is subject to appeal, the MGA wrote that European Fantasy League Ltd “is thus no longer authorized to carry out any gaming operations, register new players or accept new customer deposits, but is required to retain and provide all registered players with access to their player accounts and to refund all funds standing to the credit of players in line with applicable law”.
The gaming regulator said that sanction is being imposed on the company for the following breaches:
-The Authorised Person failed to pay the relevant annual licence fees and compliance contributions;
-The non-submission of the relevant annual and interim financial statements;
-The non-submission of the relevant player funds reports;
-The non-submission of the relevant key function roles; and
-Acting contrary to, or not adhering to the fullest extent possible to an order issued by the Authority, howsoever named.
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