The Malta Gaming Authority (MGA) has announced the cancellation of Tipbet's operating authorisation.
This decision affects authorisation number MGA/B2C/303/2015 and was made in accordance with multiple regulations under the Gaming Compliance and Enforcement Regulations (S.L. 583.06).
Following this update, Tipbet is required to take immediate action.
Firstly, all gaming operations must be suspended and no new players can be registered. Existing players, however, must be allowed to access their accounts to withdraw any outstanding balances.
Additionally, all player monies must be refunded to legitimate players, in compliance with the Gaming Act (Chapter 583 of the Laws of Malta). Tipbet must also settle any outstanding fees owed to the MGA within five days of the effective date.
Furthermore, a detailed transaction report – supported by bank statements – must be submitted to the MGA within seven days to confirm that all player funds have been refunded.
The company is also required to provide the MGA with access to necessary facilities to extract and copy essential regulatory data as defined in the Gaming Definitions Regulations (S.L. 583.04).
Finally, Tipbet must remove any references to the MGA and its authorisation from their materials in compliance with Article 51 of the Gaming Act.
This decision is subject to appeal under Article 43 (1) of the Gaming Act.
At the start of the year, the MGA also cancelled the authorisation that had been awarded to Super7plus.
Just prior to this decision, the MGA also announced the suspension of Rush Gaming’s authorisation.
