The Malta Gaming Authority has proceeded with the cancelation of Totup Systems Limited’s license. The company, which breached the local rules, had been provided with twenty days to defend its case and say why its license should not be canceled. However, it failed to do so in time, resulting in the termination of the license.
Totup Systems was found guilty of not paying the mandatory fees. On April 10, the MGA issued a Notice of Cancelation, warning the company of the upcoming measure. The notice was published on the regulator’s website on April 17, further urging Totup to act.
Since the company failed to contact the MGA within the twenty-day period, the authority has proceeded to cancel the license, as per the local regulations. The MGA noted that Totup will now have to:
- Suspend all of its gaming operations immediately and stop registering new customers
- Settle all outstanding fees that it needs to pay to the MGA. The total price tag of these fees is €79,569.89 (around $85,555.34).
- Immediately remove any references to the MGA license across its business
The MGA Will Take Further Action If Needed
Malta’s regulator noted that Totup Systems is expected, per the rules, to comply with the aforementioned conditions within three days of the publication of the notice (for reference, the warning was officially published on May 23, 2023).
The MGA added that Totup Systems “shall remain liable for all applicable obligations emanating from the Act and any other applicable regulatory instrument.”
Furthermore, in accordance with Article 43 (1), Totup Systems, if aggrieved by the cancelation, will have the right to file an appeal before the Administrative Review Tribunal. The company will have twenty days from the publication of its license cancelation to do so.
Finally, the MGA said that it reserves its right to take any other measures to recover the owed fee money, should Totup fail to comply with the current measure.
In February, the MGA also canceled the license of BetDino. The measure had gone into effect starting January 18, barring the company from doing business in MGA-regulated markets.
BetDino was found guilty of breaching regulations 9 (1) (c) and (l) and failed to comply with regulation 10. Just like Totup Systems, BetDino failed to pay its fees, attracting the MGA’s ire.