The Malta Gaming Authority (MGA) has issued a notice of cancellation for DGV Entertainment Group Limited’s license. The decision to withdraw the group’s license was taken as a result of the Authority deeming that DGV had breached a series of legal provisions. The provisions are connected to a series of missed payments regarding its permit and compliant fees. The group had been operating the AurumPalace and FlipperFlip brands under its permit.
The MGA ruled that DGV breached a number of regulations. The list includes Regulation 3 (1)(b) part of the Gaming Licence Fees Regulations connected to the specific requirements that licensees need to pay in terms of set license fees.
DGV Didn’t Pay a License Fee of €25,000 ($25,484)
According to the MGA, DGV failed to cover the agreed license fee of €25,000 ($25,484) for the period between November 23, 2021-November 22, 2022. The same group also repeatedly breached Regulation 3 (1)(a) and Regulation 6 part of the Gaming Licence Fees Regulations when it failed to pay the compliance contribution fees to the MGA. The regulator mentioned a total amount of €10,333 covering December 2021 up to the present day.
MGA also found that DGV breached Article 41 (2)(a) part of the Gaming Authorisations and Compliance Directive when it did not submit the mandatory set of audited financial statements for January 2020 to December 2020 within the standard 180-day period.
The same regulator found DGV guilty of breaching Article 41 (1) part of the Gaming Authorisations and Compliance Directive when it failed to submit its interim financial statements for January 1, 2021, and June 30, 2021.
20 Days to Respond
The group was given 20 days starting August 4 to give its answer to MGA’s decision to revoke its license. DGV will be able to argue why the regulator should change its mind and not proceed with the license withdrawal. Provided the group fails to send a clear and persuasive answer by the end of the 20 days, it will have its license withdrawn.
DGV Entertainment is located in Malta where it continues to expand its business. Recently, the company entered the online gambling industry with the help of its two brands.At the end of July, the MGA decided to suspend Field of Fortune’s license for failing to pay its fees. The suspension came just days after the same regulator suspended BIB Limited for failing to comply with its regulations and breaching several clauses.