MGA cancels two licences for breach of regulations

The Malta Gaming Authority (MGA) has cancelled the licences for both CZ Trading Limited and Cyberslotz Services Malta Limited due to a breach of regulations

The Republic of Malta Gaming Authority (MGA) has cancelled the licences for both CZ Trading Limited and Cyberslotz Services Republic of Malta Limited due to a breach of regulations.

Both companies had their authorisations cancelled as of 17 June 2021 after they were found to be inwards breach of the MGA’s Gaming Compliance and Enforcement Regulations.

Both CZ Trading and Cyberslotz were inwards breach of regulating 9 (1), which involves the companies weakness to firing financial commitments to the MGA for their operations, and weakness to pay in a well timed(p) style all amounts due to the MGA.

“The Authorised Person is so no yearner authorised to pack out any gaming operations, registry young players or swallow unexampled customer deposits, but is required to retain and bring home the bacon all registered players with approach to their participant accounts, to repay all pecuniary resource standing to the course credit of players in line of merchandise with the applicable jurisprudence and to square up all prominent fees that are due to the Authority immediately,” scan a financial statement from the MGA regarding CZ Trading Limited.

Cyberslotz Services Malta Limited meanwhile is “no thirster authorised to carry come out any gaming trading operations and is required to square off all outstanding fees that are due to the Authority immediately.”