MGA Has Revoked the License to RMI Limited and Its Platform PokerGrant

RMI Limited has lost its gaming license in the country after the Malta Gaming Authority (MGA) revoked it. Online poker site, PokerGrant, which was operating under its Malta license, won’t be able to provide its services in the country anymore.

The regulator made this decision after ruling that the operator breached rules regarding regulatory payments and data provisions.

Serious Breaches Made

Specifically, MGA determined that the company was in breach of paragraph E and H of the Third Schedule to the Gaming Act.

According to the regulator, in relation to paragraph E, RMI failed to pay, in a timely manner, fees to MGA including:

• All compliance contribution fees
• Its license fee for 2018
• Additional owed sums

The brand also failed to submit its January 2019 Player Funds Report, as well as the relevant applications for the appointment of key functions, which amounted to a breach of paragraph H.

As a result…

… RMI Limited trading as PokerGrant is no longer authorized to carry out any gaming operations, new players or accept new customer deposits.

However…

… the operator is required to retain and provide access to all ed customers to their player s. Also, it has to refund player balances as well as.

Appeal Possible

MGA declared that the company has the right to appeal its decision. Whether or not RMI will try to challenge the ruling, is yet to be seen.

The ruling came right after the MGA has established a new Sports Integrity Unit. The whole point of this unit is to help increase focus and resources dedicated to preventing the manipulation of sporting events and competitions.

New guidelines governing licensees’ advertising are also in place and the regulator has established a new committee to ensure compliance with the new rules as well.

MGA continues to be one of the strictest regulators

Recently, the regulator published its yearly report for 2018. A thorough overview mostly focuses on the effective enforcement of gaming rules. In that period, the regulator has issued total of 139 fines to operators who have been found guilty of violating laws.

MGA’s CEO, Heathcliff Farrugia, was very pleased by those results:

“2018 was a remarkable year for the authority, predominantly because of the coming into force of the new law on 1 August 2018. The new framework strengthened the MGA’s supervisory role, specifically in the areas of compliance and enforcement, enabling it to focus efforts on areas that present a higher risk profile.”

The regulator followed its path in 2019 also, with continuing to revoke licenses belonging to operators who do not comply with domestic laws.

In June…

… by the MGA ruling, ASAP Italia had to cease all operations and activities in Malta. This was the most recent case until the RMI was caught by the watchful eye of the legislator.

However…

… the company has the chance to overrule the decision by the appeal. For now, its platform, PokerGrant, can’t operate in the country since its license was canceled by the MGA.

Source:

“Malta regulator cancels PokerGrant operator’s licence”, igamingbusiness.com, August 30, 2019.