Malta Gaming Authority slaps operator with its highest-ever fine
Blackrock Media Limited receives €2.34m penalty for offering unlicensed egaming
The Malta Gaming Authority (MGA) has handed down its highest-ever regulatory fine to an operator, issuing a €2.34m (£2m) punishment to Blackrock Media Limited for offering unlicensed egaming.
Blackrock Media received the penalty for “operating a gaming service through a Maltese legal entity without being in possession of the necessary authorization”, the MGA said.
Joint investigations by the MGA and the Maltese Executive Police found the firm was processing payments to and from Maltese players without an MGA licence. The name of the Maltese entity through which these payments were processed has not been disclosed, however the MGA confirmed the fine has been paid via a settlement between Blackrock Media and the regulator.
Blackrock Media operates the Wild Sultan website from Cyprus under the Curaçao egaming licence of its holding company The Luck Factory B.V. The company has not commented on the fine after being approached by EGR.
Speaking about the case, Maltese parliamentary secretary Silvio Schembri paid tribute to the work of the MGA and the Maltese police, saying they had worked “diligently, efficiently and effectively,” throughout the investigation.
“It should be noted that this is the highest fine ever issued by the Malta Gaming Authority, which proves the credibility and seriousness the authority operates with to safeguard the reputation of the Maltese jurisdiction in this field,” Schembri added.
In September, a reported by the Council of Europe’s anti-money laundering (AML) body, MONEYVAL, claimed Maltese authorities were failing to sufficiently analyse or understand money-laundering risks, asserting the online gambling sector was “inherently vulnerable” to money-laundering.
Addressing this issue, Schembri claimed the case highlighted the “clear proof” of the Maltese government’s commitment to implementing MONEYVAL’s recommendations going forward.
“The gaming industry is an important element of our economy and we must continue to make sure that our jurisdiction will continue to raise the bar and retain the title as the home for gaming excellence.
“The government is committed to continue nurturing this industry, which is set to continue growing in the coming years,” Schembri added.
The MGA has targeted a “renewed focus” on compliance since the start of 2019, suspending or cancelling the licences of several licensed operators for non-compliance with MGA laws.
Picture Credit:Fredex8