Malta Gaming Authority Cancellation of Authorisation for Tipbet Limited (C 63741)

MALTA (May 20, 2024) — The Malta Gaming Authority has decided to cancel the authorisation bearing reference number MGA/B2C/303/2015 issued to Tipbet Limited (the ‘Authorised Person), effective as of 28 November 2023.

This is being done in accordance with regulations 9 (1) (c), 9 (1) (d), 9 (1) (i), 9 (1) (l), 9 (1), 9 (1) (m) and 10 (1) (a) of the Gaming Compliance and Enforcement Regulations (S.L. 583.06).

Pursuant to the foregoing decision, the Authorised Person is hereby being directed to:

1. Immediately suspend all gaming operations with immediate effect and cease to register any new players in terms of its Authorisation;
   Provided that Authorised Person shall enable existing players to access their accounts for the purpose of requesting the withdrawal of their outstanding player balances;
2. Refund all player monies to the legitimate players accordingly and in line with the Gaming Act (Chapter 583 of the Laws of Malta) and the regulatory instruments issued thereunder;
3. Settle all outstanding fees that are due to the Authority within a period of five (5) days from the effective date referred to above;
4. Submit to the Authority a transaction report extracted from their back-end system together with the supporting bank statements, attesting that all player funds have been duly remitted to the registered players, within a period of seven (7) days from the effective date referred to above;
   Provided that the Authority shall reserve the right to request the Authorised Person to provide the necessary facilities to the Authority in order for the latter to extract and make copies of the relevant data, including but not limited to, essential regulatory data as defined in the Gaming Definitions Regulations (S.L. 583.04); and
5. Remove with immediate effect any reference to the Authority and the Authorisation in accordance with article 51 of the Gaming Act (Chapter 583 of the Laws of Malta).

This decision is subject to appeal in terms of article 43 (1) of the Act.

SOURCE: Malta Gaming Authority.