Malta cancels CZ Trading and Cyberslotz licences

Malta cancels CZ Trading and Cyberslotz licences

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The Malta Gaming Authority (MGA) has cancelled licences for CZ Trading and Cyberslotz Services for breaching regulations in the country.

The breach

CZ Trading had been operating DrVegas.com under a B2C Gaming Service License in partnership with leading service provider Cyberslotz.

The MGA, however, alleges that both companies were in breach of Regulation 9 of the Gaming Compliance and Enforcement Regulations. This was in reference to a failure to submit certain licensing payments to the MGA in a specified timeframe.

Regulation 9 outlines that authorised subjects must fulfil their financial commitments towards the authority in a timely manner. Failure to do so will result in a loss of licence and cease of operation within the country.

The consequences

As both website’s licences were swiftly revoked, they are no longer authorised to carry out gaming operations under their Malta licences. They have also been ordered to settle all outstanding fees as soon as possible.

The latest cancellation

This news comes just weeks after the MGA cancelled Magic Services’ Malta licence for non-payment of their annual licencing fee. They had been operating both Bet8.eu and Bet8.gr under a B2C Gaming Service Licence.

They were found to be in breach of Regulation 3 of the Gaming Licence Fees Regulations by failing to pay up to €71,035 (£60.243). Magic Services were given 20 days to respond and recuperate any missed payments in full. However, by failing to submit an appeal, their licence was revoked on June 25.

The post Malta cancels CZ Trading and Cyberslotz licences appeared first on Affiliate Insider.

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