The Malta Gaming Authority (MGA) has officially cancelled the license of Genesis Global Limited, a prominent mobile-first international gaming company. This marks the third operator to have its license suspended by the MGA, with the order stemming from undisclosed violations of the Gaming Compliance and Enforcement Regulations. The company managed a significant number of sites under the license, including Casinojoy.com, Genesiscasino.com, Sloty.com, Spinit.com, and Vegasoo.com.
As a result of the license cancellation, Genesis Global Limited is required to repay all unpaid payments to players and the MGA within 7 days of the order, which was issued on January 11. Additionally, the company’s license was initially suspended in January 2023, with employees receiving letters about the firm’s insolvency a month prior.
The MGA has also ordered Rush Gaming, the operator of Onebet.com and Fansbet.com, to cease all B2C operations in the region following the cancellation of its professional relationship with Betago. This move is part of the MGA’s strategy to uphold global gambling standards and foster secure gambling environments.
In 2021, Genesis Global Limited faced regulatory trouble in the UK regulated market, resulting in a £3.8m fine and additional licensing conditions imposed by the UK Gambling Commission after significant social responsibility and anti-money laundering failures were uncovered.
The Malta Gaming Authority is responsible for various aspects of gaming regulation, including guidance and cooperation during the application process, ensuring the integrity of games and gaming devices, protecting minors and vulnerable persons, licensing and regulating gaming operators, safeguarding player rights, and monitoring activities to keep gaming free from criminal activities.
While the MGA cannot compel operators to return stakes voluntarily placed and lost in fair play, it can offer assistance and advice in enforcing deposits and real winnings, as well as aid in resolving disputes with players and licensees when necessary.