The MGA has decided to suspend the authorisation awarded to BetElephant Limited MGA/B2C/161/2008 effective as of 7 April 2020 in terms of Regulation 9(2) of the Gaming Compliance and Enforcement Regulations (S.L. 583.06).
BetElephant Limited is thus no longer authorised to carry out any gaming operations, register new players or accept new customer deposits, but is required to retain and provide access to all registered players to their player accounts and to refund all funds standing to the credit of players in line with the applicable law.
This sanction is being imposed upon BetElephant Limited for having breached sub-paragraph (iii) of reg. 9(1)(c) of the Compliance and Enforcement Regulations as per details shown hereunder:
- c) The authorised person has failed to comply with one or more applicable obligations in terms of any regulatory instrument or any other applicable law of Malta in that the Authorised Person has i) failed to provide the Authority with the key functions list,
- ii) has failed to submit the Interim Financial Statements for the year 2019.
This decision may be subject to an appeal in terms of article 43 of the Gaming Act (Cap. 583).