The Malta Gaming Authority (MGA) has removed GoldWin Limited‘s gaming licence, effective 13 March.
This decision followed the Malta regulators suspending the licence of GoldWin on 25 September 2024 for several violations of the Island’s gaming regulations.
According to the MGA, the breaches included “an imminent threat of serious prejudice to the interest of players” and a failure to meet its commitments to players in a timely manner.
Following the removal of its licence, GoldWin is now required to notify all players of the cancellation via email and display the news on its website for a period of 30 days. The notification must also refer players wishing to withdraw player funds to the MGA’s ticketing system.
Additionally, GoldWin must settle all outstanding fees due to the MGA within five working days from 13 March and remove, with immediate effect, any reference to the MGA.
The MGA’s decision is now subject to appeal in terms of Article 43 (1) of the Gaming Compliance and Enforcement Regulations.
GoldWin’s suspension in Malta follows the company finding itself in hot water in another European jurisdiction last year.
In October, Kansspelautoriteit (KSA), the Dutch gaming regulator, issued GoldWin with a fine for operating the westcasino.com site without a licence.
GoldWin was hit with a charge of $6.8m for offering ‘games of chance’ in the Netherlands without a KSA-issued gambling licence, in violation of the KOA Act – which has been governing the country’s betting sector since October 2021.
MGA re-examine financial requirements
In recent weeks, the MGA has called for feedback from stakeholders before making changes to the jurisdiction’s financial requirements.
As part of a closed consultation with the relevant parties, the MGA is welcoming feedback on proposed amendments to its Gaming Authorisations and Compliance Directive, the 30-page document that sets out the requirements operators holding a Maltese gaming licence must follow.
On the potential changes, the MGA stated: “The proposed modifications aim to strengthen the MGA’s risk-based approach to regulating the financial aspects of licensees, addressing challenges encountered by the industry while further enhancing the Authority’s efficiency and regulatory effectiveness.”
