Tue, Oct 1, 4:12pm by William Brown
The Malta Gaming Authority has gone tough on one of its licensees over serious violations of compliance and enforcement rules.
The regulatory body announced earlier this week that it has decided to revoke the licence of Star World Limited, the company behind the Mr Ringo online casino brand.
Casino News Daily reports the licence cancellation came into effect on September 26, the gambling watchdog said in a statement on its official website.
Star World held a business to client licence from the MGA that authorised it to provide online gambling services in jurisdictions that recognise the authority of the Maltese watchdog.
The MGA said that the gambling operator’s licence revocation means that it is no longer authorised to operate its Mr Ringo brand, register new players and accept new customer deposits.
The regulatory body went on that Star World is required to provide registered gamblers with access to their player accounts and refund all funds that are standing to the credit of its existing players in accordance with the applicable law.
News about the cancellation of Star World’s licence arrived just days after another gambling operator, UWin4U Limited, faced the same punishment from the Maltese gambling regulator.
The MGA said in its statement announcing Star World’s licence cancellation that the gambling operator has breached three paragraphs of the Third Schedule of the Gaming Act.
The regulatory body explained further that the company’s violations involved failing to “effect payments to the Authority when lawfully due”, to “effect payments to players when lawfully due”, and to “ensure the integrity and availability of essential regulatory data.”
Star World’s licence revocation followed a previous ruling by the MGA regarding the company’s gambling activities.
In August 2017, the regulator suspended the operator’s business to client licence indefinitely.
The MGA did not provide information on what had prompted its decision back then.
Prior to its MGA licence suspension two years ago, Star World’s Mr Ringo online casino was subject to heavy criticism within the iGaming community.
The brand faced multiple complaints by players who reported that they had become victims of unmotivated confiscation of their winnings, delayed or even denied payments, and a lack of customer support, among others.
The Maltese regulator said that Star World will be able to appeal its licence cancellation.
It is to be seen whether that will happen.
— iGaming Business (@iGamingBusiness) September 27, 2019
The MGA has not been the only regulator to have recently been busy punishing erring operators.
The UK Gambling Commission suspended last month the operations of Russian bookmaker 1xBet over serious violations of UK gambling codes and regulations.
The UK regulatory body also suspended the business to client licence of iGaming software provider and white label casino and betting operator EveryMatrix.
The company was scolded by the Gambling Commission over compliance deficiencies demonstrated by some of its white label casinos.
EveryMatrix announced this week that it has decided to shut down its business to client operations in the UK after its licence suspension, saying that the business has become “unsalvageable”.
Online gambling platform Pragmatic Solutions has recently marked an important milestone after receiving product certification in Sweden.
The company has added Sweden to the list of regulated territories it has been authorised to provide its PAM iGaming platform and has extended its availability in the lucrative and recently regulated market.
Casino News Daily reported in August that Pragmatic Solutions noted in a recent press release that Sweden has long been an important and extremely popular iGaming destination and after the recent reorganization of the market, the company’s certification was a necessary step in order for it to be able to tap into the regulated space and to provide its existing and new clients with its services.
Headquartered in Gibraltar, Pragmatic Solutions provides an online gambling platform that services all sectors of the growing iGaming and betting industry.
The PAM platform is flexible, modular and fully API based, and features complete UI control and powerful CMS as well as back office, CRM and wallet.
The platform also includes iGaming content by a number of third-party providers of products for the online gambling industry.
Most recently, Pragmatic Solutions announced that it has agreed to add online gaming content by Greentube, a division of gambling giant NOVOMATIC Interactive.
Under the terms of the deal, clients of Pragmatic Solutions now have access to Greentube’s most popular titles, including Book of Ra, the Reel King series, and Lord of the Ocean, among others.
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