The gambling regulator in Malta, the Malta Gaming Authority (MGA), announced its decision to cancel the authorization of SFJL Holding Ltd. Confirmed last week, the cancellation authorization was implemented as of November 8, 2023. The latest announcement comes after back in August, the Authority suspended SFJL Holding’s license. This effectively stopped the gambling operator from offering its services to players online.
In light of the most recent decision of the MGA, the gambling operator is required to immediately remove any reference to the Authority. This requirement is in line with Article 51 of the Gaming Act in the country, the gambling regulator explained.
Additionally, the MGA said that SFJL Holding is required to settle all compliance contribution fees it owes. The deadline for settling those fees is seven days after receiving the notice from the MGA.
Another requirement the gambling operator is directed to comply with is to send the MGA a transaction report from their back-end system along with the relevant bank statements. Using this information, the Authority seeks to ensure that all of SFJL Holding’s players have received the money they are owed. Not unexpectedly, the deadline for this requirement is set at seven days as well.
A Busy Period for the MGA
The announcement about the canceled authorization comes after recently, MGA denied having any connections with kaiyin.io. Last week, the Maltese gambling regulator confirmed that any connections between itself and the gambling operator are untruthful. “Any reference to the MGA and/or gaming license/s said to be issued by the Maltese Authority, as stated by kaiyun.io is false and misleading,” explained a statement released by the Authority at the time.
Last month, the MGA announced it issued a notice of license cancellation to AMGO iGaming. At the time, the gambling regulator claimed that the operator breached the established regulations on three occasions. Similar to other such notices, AMGO iGaming was given 20 days to submit a written response, explaining why its license should not be cancelled by the Authority.
According to the statement released by the MGA, SFJL Holding also has 20 days to appeal the decision before the Administrative Review Tribunal. The gambling watchdog explained that this right of appeal is in line with article 43 (1) of the Gaming Act in the country.