One of the Maltese gambling regulators has suspended one of its licensees after they failed to comply with the regulations. Field of Fortune was found guilty of not paying the required fees.
All MGA licensees are required to pay a fee to the regulator according to regulation 9 (1) of Malta’s Gaming Compliance and Enforcement Regulations. Payments should be done in a timely manner according to the regulations. Both rules were not complied with by Field of Fortune.
The two reasons for the cancellation of Field of Fortune’s license were cited by the MGA.
According to the MGA, Field of Fortune failed to pay up. The operator’s license has been suspended by the Authority. June 28, 2022, was when the suspension was backdated to.
Field of Fortune will no longer be able to offer its products in regions that are regulated by the MGA. All outstanding fees owed to the Authority will be immediately settled by the company.
Field of Fortune is the second operator to have their license suspended in a few days. Three days ago, it was announced that the license of Bet In Best would be canceled.
The company promised to fix its problems after the MGA warned them. The operator failed to do so in a number of months. The regulators had no choice but to suspend BIB.
This is what the MGA had to say about it.
The FATF gray list is a list of countries that are safe for doing business. Because of this, the MGA will have to crack down on operators who aren’t compliant and work harder to get Malta back on the list.
The Maltese gambling regulator, Malta’s Gaming Authority (MGA), has suspended one of its licensees after the latter failed to comply with the regulations. The company in question is Field of Fortune, which was found guilty of not paying the required fees. According to regulation 9 (1) of Malta’s Gaming Compliance and Enforcement Regulations, all licensees are required to pay a fee to the regulator.