Wednesday, October 5, 2022

MGA revokes Field of Fortune s licence for failure to pay fees

Field of Fortune has lost its Maltese gaming licence for failing to make fee payments in a timely manner.

The Malta Gaming Authority (MGA) has revoked its approval for Field of Fortune over breaches of the island nation’s rules regarding licence fees, specifically regulation nine of the Gaming Compliance and Enforcement Regulations.

This concerns licensee’s financial commitments, which according to the MGA, Field of Fortune “failed to discharge,” as well as failing to “pay in a timely manner all amounts due to the Authority.”

As a result, its licence has now been cancelled, effective from 28 June, and Field of Fortune is no longer authorised to carry out gaming operations. It must further pay all outstanding fees that are owed to the MGA “immediately.”

“The Authorised Person is thus no longer authorised to carry out any gaming operations and is required to settle all outstanding fees that are due to the Authority immediately,” stated the regulator.

Last week, operator BIB Limited likewise had its Maltese licence cancelled, though unlike Field of Fortune, this concerned other areas besides the non-payment of fees.

And even earlier this month, Malta found a new national lottery operator. The aptly named National Lottery PLC was chosen by the MGA to replace Maltco Lotteries Limited, which had previously held the licence since 2004.

At the time, MGA Chief Executive Carl Brincat welcomed the change, remarking: “The Authority is confident that the concessionaire shall dedicate all resources necessary to maintain the very highest level of operational and compliance standards.”

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