MGA confirms it has cancelled Totup System’s license following regulatory breaches
Totup System must suspend all gaming operations with immediate effect and cease to register any new players.
The Malta Gaming Authority (MGA) has revoked Totup System’s licence to operate in Malta due to regulatory breaches.
With reference to the notice of cancellation dated 10 April 2023 issued by the MGA, Totup System was provided with a 20-day time period within which it had the right to show proof as to why the MGA should not proceed with the enforcement measures. Totup System, however, failed to make its submissions to the Authority within the required time period.
As a consequence, Totup System must suspend all gaming operations with immediate effect, cease to register any new players and settle all outstanding fees that are due to the MGA (amounting to a total of €79,570/ $85,574) within a three-day-period from the date of publication of this communication on the Authority’s website (17 April).
The two licence breaches were: Totup System repeatedly failed to pay the MGA the applicable licence fees for the years 2022 and 2023. These outstanding fees amounted to a total of €50,000 and remain unpaid to date. The second breach was that the company also repeatedly failed to pay the applicable compliance contribution fees due to the MGA, within the timeframe given.
Totup will now have a further 20 days to appeal against the decision.
The Maltese regulator also awarded licences to GameArt and EveryMatrix earlier this year.
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