The Malta Gaming Authority (MGA) has taken action against Genesis Global, a B2C gaming operator, by immediately cancelling its gaming licence. This decision comes after the suspension of Genesis’ Malta licence in January of the previous year. The full cancellation of their licence means that Genesis Global is no longer permitted to offer gambling services under the now revoked permit.

Genesis Global had been operating 23 websites under the licence, including popular platforms such as Vegasoo.com, Sloty.com, Casinojoy.com, Spinit.com, and Genesiscasino.com. In response to the cancellation, the MGA has instructed Genesis to settle all outstanding fees owed to the regulator within seven days of the notice of cancellation, issued on January 11th.

Additionally, Genesis is required to provide documentation to the MGA confirming that all funds have been returned to players across its network of websites, also within seven days of the cancellation notice. The operator must also remove all references to the Malta licence from its websites.

The cancellation of Genesis Global’s licence aligns with the company’s recent collapse in December 2022. This collapse resulted in the layoff of all employees just before Christmas, as the company began insolvency proceedings. The former CEO, Ariel Reem, departed from the business as it exited the UK gambling market, which had previously resulted in the suspension and subsequent reinstatement of their UK licence.

Following the licence cancellation, the MGA stated that it is collaborating with the appointed liquidator at Genesis to ensure that players recover any funds held by the company. It was also noted that the cancellation could be subject to appeal.

This recent action against Genesis Global is part of a pattern of increased suspensions and cancellations of gaming licences by the MGA. In addition to Genesis, Rush Gaming and Betago have also faced similar repercussions this year, with Rush Gaming’s licence being suspended and Betago’s licence being cancelled. The MGA stated that these actions were taken due to breaches of gambling regulations or laws in Malta.

By admin