AMGO iGaming Malta Ltd. has been served with a Notice of Cancellation of Authorisation by the Malta Gaming Authority. It has been deemed responsible for three breaches of the Gaming Compliance & Enforcement Regulations, commonly referred to as Regulations.
The first breach is in accordance with Regulation 3(1)(b), stating that the Authorized Person has failed to settle the annual license fee. This is for the period of November 22, 2022, and November 22, 2023. An estimated amount of €13,915.12 is outstanding in the balance to date.
The second breach is in accordance with Regulation 3 (1)(a) and Regulation 6. This also states failure to settle the payment but in relation to the applicable compliance contribution fees. The timeline is the same as mentioned previously, but it has been since January 2023.
The third and final breach is Article 38 of the Player Protection Directive. Here, MGA has all the reasons to believe that AMGO did not stand to meet its commitments to players on time. Thereby, constituting a reason to believe that there is an imminent failure.
Per the gaming news, AMGO has been directed to settle all the dues and follow the guidelines as stated in the Gaming Player Protection Regulations.
A summarized set of grounds on which MGA has served AMGO notice states that:
- They have failed to comply with one or multiple obligations that apply to them relating to regulatory instruments.
- They have failed to discharge financial commitments for their operations.
- They have not paid the amount due to MGA on time.
- They have failed to meet commitments made to players on time.
In addition, the scale of the amount owed includes interest applicable for the period according to Income Tax (Interest Rate) Rules Up. In the event that the brand does not comply with these warnings, MGA will take legal action.
Having said that, it is important to note that the entire gaming industry is not in the dust with this announcement. As a matter of fact, there are also developments worth taking note of. For instance, Scientific Games has opened a new studio and launched a new content hub. The gaming studio is titled SG Studios, which will primarily target the iLottery segment with its products. Steve Hickson, the Vice President of Digital Games at Scientific Games, has called it a premier studio that is backed by a strong set of production team members, further highlighting that they will deliver the best-performing products that the market has seen.
Similarly, Hacksaw Gaming has partnered with High Flyer Casino to take the supplier’s slot titles to the operator’s platform. This includes Blood Thirst and Wanted Dead or Alive.
Circling back to AMGO, the company must promptly respond to MGA with justifications for three breaches and payment plans. The event is in progress, with additional information forthcoming from MGA or AMGO.