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HomeDaily NewsBusinessMGA Withdraws Arabmillionaire's B2C Gaming Licence Amid Regulatory Violations

MGA Withdraws Arabmillionaire’s B2C Gaming Licence Amid Regulatory Violations


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The Malta Gaming Authority (MGA) has annulled Arabmillionaire’s B2C gaming licence following the online operator’s multiple regulation infractions.

Last year, on 4th August, Arabmillionaire received a warning from the MGA regarding potential licence revocation if specific concerns weren’t addressed. These encompassed non-compliance with MGA directives, regulatory obligations, financial commitments, and lapses in anti-money laundering and counter-terrorist financing rules. The company also defaulted on its licence fee payments.

Seeking a resolution, Arabmillionaire approached the MGA, communicating that the company was amidst a significant reorganization. The operator asked for a licence suspension to resolve pending matters. Subsequently, the MGA suspended Arabmillionaire’s licence in October 2022, giving them a chance to remedy the identified issues, which comprised settling licence fees and customer payments.

However, the MGA reveals that Arabmillionaire neither addressed the raised issues nor maintained open communication with the Authority. As a consequence, the MGA has now decided to revoke Arabmillionaire’s gaming licence effectively immediately.

Consequent to the cancellation, the MGA mandates Arabmillionaire to settle all overdue licensing fees, amounting to €25,000 (£21,775/$26,398) for the period starting 13 June 2022, along with an additional €25,000 for the year beginning 13 June 2023. This payment must be concluded within five business days from receiving the cancellation intimation.

Additionally, Arabmillionaire is required to notify all its clientele about the licence revocation through their website and email. The communication should guide players on retrieving their funds, ensuring withdrawals within five business days from request. The MGA emphasizes that any failure in funds’ return or ensuring the regulatory data’s integrity may lead to criminal prosecution against Arabmillionaire. To validate the return of player funds, Arabmillionaire is instructed to provide a transaction report to the MGA.

In related news, Arabmillionaire is not the sole operator facing the MGA’s stringent measures. Tipster Limited also recently had its licences revoked after the company was disbanded. Following a preliminary suspension in July, the MGA chose to entirely cancel Tipster’s licences, deeming it the most fitting action. Tipster, similar to Arabmillionaire, had to inform its users about the cancellation and settle all outstanding fees.

All such licence cancellations and suspensions by the MGA are subject to appeal.

Jerome McNamara
Jerome McNamara
Jerome, a valuable addition to the Gamingo.News team, brings with him extensive journalistic experience in the iGaming sector. His interest in the industry was sparked during his college years when he participated in local poker tournaments, eventually leading to his exposure to the burgeoning world of online poker and casino rooms. Jerome now utilizes his accumulated knowledge to fuel his passion for journalism, providing the team with the latest online scoops.


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