MGA suspends Goldwin Ltd’s licence

Garance Limouzy October 2, 2024

Share it :

MGA suspends Goldwin Ltd’s licence

The Malta Gaming Authority (MGA) has announced on 1 October 2024 the suspension of Goldwin Ltd’s gaming licence, effective from 25 September 2024. Goldwin Ltd, holder of MGA licence MGA/B2C/533/2018, is no longer permitted to conduct any gaming operations. However, the company must ensure that players retain access to their accounts and that all remaining balances are refunded in compliance with Maltese law.

The MGA cited several regulatory breaches as the reason for this action, including concerns over player safety. The regulator explained that Goldwin Ltd’s actions posed a significant risk to the interests of players, which was deemed an “imminent threat”. Additionally, the company was found to have failed to meet its obligations under Malta’s gaming regulations, including the timely fulfilment of its commitments to players. The suspension was enacted under several provisions of the Gaming Compliance and Enforcement Regulations, with the MGA determining that sufficient grounds existed to justify such a decision.

Goldwin Ltd has the right to appeal this suspension in accordance with Maltese gaming laws.

The Malta-based company was fined €6.8 million by the Netherlands Gambling Authority (Ksa) in October 2023 for permitting Dutch residents to gamble without a valid gambling license.

MGA, a global leader in gaming regulation

The Malta Gaming Authority (MGA), established in 2001, is the central regulatory body overseeing both land-based and online gambling activities within Malta. Its mission is to maintain fair and transparent gaming practices, protect vulnerable players, and prevent crime and money laundering in the gaming industry. The MGA is globally recognised as a leader in remote gaming regulation, ensuring that operators comply with strict standards to safeguard players and ensure the integrity of the industry.

By fostering an advanced regulatory environment, the MGA supports the sustainable evolution of the gaming sector while maintaining a high level of consumer protection. Through international cooperation and the adoption of best practices, the MGA continues to improve Malta’s reputation as a reputable jurisdiction in the global gaming industry.