The decision by the Malta-based Malta Gaming Authority (MGA) to cancel the authorization of Genesis Global Limited signals a significant development in the gaming industry. This decision, which comes after a year of Genesis Global having its license suspended, means that the company is no longer permitted to provide gambling services under its old permit.
The cancellation of the authorization, bearing reference number MGA/CRP/314/2015, is a result of the company’s failure to comply with several regulatory terms. The decision, made in accordance with specific regulations, can be appealed by Genesis Global Limited under Article 43 of the Act.
In light of this decision, the company has been directed to settle all outstanding fees owed to the regulator within seven working days. Additionally, Genesis Global must provide a transaction report from its back-end system and corresponding bank statements to confirm the remittance of player funds to all registered players within the same timeframe. Furthermore, the company is required to remove all references to the MGA and its authorizations in accordance with Article 51 of the Gaming Act.
The MGA is also working with an appointed liquidator to ensure the remittance of player funds as per the terms of the license. Genesis Global Limited joins Rush Gaming and Betago as companies that have had their licenses canceled by the MGA since January 1. As a result of the cancellation, Genesis Global will no longer be able to operate its 23 websites that were previously authorized by the MGA.
The impacted websites include popular platforms such as Sloty.com, Vegasoo.com, Spinit.com, and Casinojoy.com. This development underscores the MGA’s commitment to upholding the integrity of the gaming industry in Malta and ensuring the protection of players’ interests.