The Malta Gaming Authority has revoked the licence held by UAE-based online lottery Arabmillionaire after being left unsatisfied by the operator’s attempts to “rectify its position and cooperate” with the regulator.
The operator has been fined €25,000 and now owes the MGA €50,000 in annual licence fees. The regulator called on Arabmillionaire to notify players of its licence cancellation and support customers with fund withdrawals.
The MGA has given Arabmillionaire seven days from receipt of the notice to comply and said the operator has a right to appeal within 20 days of the notice being published.
The MGA initially suspended Arabmillionaire last October for failings including breaching anti-money laundering regulations. The suspension came as a concession after the operator insisted it was undergoing a “major restructuring” aimed at settling all outstanding matters.
The MGA said it “clearly informed” Arabmillionaire that it would cancel its licence “should it fail to remedy its breaches, settle all its outstanding payments to both the Authority and to all its registered players, and provide full assurance that it is in a position to hold the authorisation granted to it and to operate under its terms.”
But despite being given “ample time” to address the breaches, the MGA said all attempts to communicate with Arabmillionaire “have been rendered futile,” adding that the breaches “have continued to persist to date.”
