Blackrock Media Limited fined €2.34 million by MGA for provision of an unauthorised gaming service
The company Blackrock Media Limited has been issued a financial penalty of €2.34 million for operating a gaming service through a Maltese legal entity without being in possession of the necessary authorisation. This resulted in the determination that the company was processing payments to and from players as part of a gaming service which was not duly authorised.
Parliamentary Secretary for Financial Services, Digital Economy and Innovation Silvio Schembri, highlights that this all came to light when a joint investigation between the Malta Gaming Authority and the Executive Police force took place. He states, "This is proof that our institutions work diligently, efficiently and effectively. It should be noted that this is the highest fine ever issued by the Malta Gaming Authority, which proves the credibility and seriousness the authority operates with, to safeguard the reputation of the Maltese jurisdiction in this field."
The aforementioned financial penalty has been paid in terms of a settlement which has been reached with the Authority.
"Such result is a clear proof of the Maltese government’s commitment in implementing the recommendations put forward last year in the MONEYVAL report and in strengthening the measures taken so far by the current administration. The gaming industry is an important element of our economy and we must continue to make sure that our jurisdiction will continue to raise the bar and retain the title as the home for gaming excellence. The Government is committed to continue nurturing this industry, which is set to continue growing in the coming years", said Parliamentary Secretary Schembri.
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