MGA Suspends SFJL Holding’s Licence for Breach of Regulations
The Malta Gaming Authority (MGA) has announced the suspension of SFJL Holding Limited’s licence with immediate effect.
SFJL Holdings is thus no longer authorised to carry out any gaming operations during the suspension’s operative period.
The MGA’s ruling officially came into effect on 3 August. SFJL holds a Type 2 Gaming Services licence in Malta, but this is now suspended for an undisclosed period.
The Malta regulator said SFJL breached several sections of Malta’s Gaming Compliance and Enforcement Regulations. These included regulation 9 (1) C, K and J.
SFJL Holdings failed to comply with multiple regulations in Malta such as: ‘Section 9 (1) (C) failure to comply with obligations in terms of regulatory instrument or other applicable law. The MGA also flagged Section 9 (1) (K), where licensees must seek the regulator’s approval over certain changes within the business.’
These regulations state that if the MGA had been aware of particular circumstances, it would not have given its authorisation over certain matters.
This decision may be subject to an appeal in terms of article 43 of the Gaming Act (Chapter 583 of the Laws of Malta).
