The Malta Gaming Authority (MGA) has taken decisive action by suspending the gaming license of SFJL Holding Limited, effective immediately. This suspension means that SFJL Holdings is prohibited from conducting any gaming operations during the suspension period. The MGA’s decision, which came into effect on August 3, 2023, pertains to SFJL’s Type 2 Gaming Services license in Malta.
Reasons for Suspension:
SFJL Holdings was found to be in breach of several sections of Malta’s Gaming Compliance and Enforcement Regulations, specifically regulations 9 (1) C, K, and J. The breaches are summarized as follows:
Regulation 9 (1) (C): Failure to comply with obligations as per regulatory instruments or other applicable laws.
Regulation 9 (1) (K): Neglecting to seek the MGA’s approval for specific changes within the business.
Regulation 9 (1) (J): The MGA would not have granted authorization if it had been aware of certain circumstances.
Lack of Specific Details:
The MGA’s announcement does not provide specific information about the actions or events that led to these regulatory breaches. Additionally, the duration of the license suspension remains undisclosed.
Appeal Possibility:
SFJL Holding Limited has the option to appeal this decision in accordance with article 43 of the Gaming Act (Chapter 583 of the Laws of Malta).
The MGA’s suspension of SFJL Holding Limited’s gaming license underscores the authority’s commitment to enforcing regulatory compliance within the Maltese gaming industry. While the precise nature and duration of the suspension remain unclear, this action emphasizes the significance of adhering to gaming regulations in Malta. The suspension of SFJL’s license follows the recent cancellation of EGMIT Elite Limited’s B2C gaming service license by the MGA, highlighting the regulator’s proactive approach to maintaining industry standards.