Genesis Global Limited has been announced as the latest operator to have its licence suspended by the Malta Gaming Authority.
The group has become the third business to have been ordered by the Maltese gambling regulator to halt all operations in the region over undeclared breaches of the Gaming Compliance and Enforcement Regulations.
The operator held management over a number of websites under its licence, including Vegasoo.com, Sloty.com, Casinojoy.com, Spinit.com and Genesiscasino.com.
All outstanding payments to the MGA and players must be refunded within seven days of the cease order’s issue date (11 January), with the provision of evidence that the above has been complied with.
Genesis initially had its licence suspended temporarily back in January 2023, distributing letters to its employees informing of insolvency a month prior.
The MGA also ordered Rush Gaming, operator of Fansbet.com and Onebet.com, to cease all B2C operations in Malta, following up with the cancellation of its business relationship with Betago – all part of MGA’s wider strategy to meet international gambling standards by nurturing a safer gambling environment.
Two years ago, the operator had regulatory issues in the UK market after it was sanctioned with a £3.8m fine and must meet further licensing conditions after a UK Gambling Commission (IUKGC) investigation found “significant social responsibility and anti-money laundering failures”.
It came after an extensive investigation into the operator by the UKGC, with the company first having its licence suspended in July 2020 for an interim period ‘due to a number of compliance issues’.
Although returning to operations three months later, after regulatory enquiries revealed positive changes, the Commission continued its investigation of the operator before reaching its decision to impose a fine, issue a warning and sanction a licence condition requiring further auditing.