The Malta Gaming Authority (MGA) has rescinded Tipster Limited’s permit in the nation following the company’s recent dissolution.
The Maltese regulatory body has revoked Tipster’s permit after the company was recently dissolved. The regulator suspended Tipster in July in response to the dissolution order and is now moving forward with a complete revocation. The MGA stated this was the most “suitable” action.
Tipster must now inform all players of the license cancellation and settle outstanding charges with the regulator. The sports betting operator has also been instructed to eliminate any references to its MGA license from its website.
All license revocations and suspensions in Malta are subject to appeal.
Tipster faces insolvency proceedings
The license suspension and subsequent revocation followed the initiation of insolvency proceedings against Tipster in June. Dr. Jörg Gollnick was designated as its provisional insolvency administrator.
Gollnick is also the provisional insolvency administrator of Tipster Service GmbH, part of the Tipster group. At the time, Gollnick stated that restructuring depended on the value of the operator.
Shortly after, the German gambling regulator, the Joint Gaming Authority of the Federal States (GGL), rescinded Tipster’s sports betting permit.
The GGL did not disclose the reason for the revocation, but did say that the decision was made to ensure player protection.
The tipster is out of business.
A German publication, Bild, reported that law enforcement officials conducted a search of the tipster’s main office in Cologne.
Authorities declined to identify the target of the search but stated that it was linked to an inquiry into a sports wagering enterprise.
This action followed a comprehensive investigation into alleged criminal activities. These included providing illicit gambling opportunities and establishing a criminal organization. Six individuals were apprehended during the raid.
Other wagering companies are losing their permits in Malta.
The tipster is the most recent company to have its permit revoked in Malta.
The Malta Gaming Authority (MGA) rescinded the license of EGMIT Elite Limited. EGMIT Elite operated the Elite24bet website and has ceased operations.
This month, the MGA also suspended the permit of SFJL Holding Limited for violating certain regulations. These included rules concerning alterations to the company and informing the regulatory body about these changes.
However, the MGA decided to allow Green Feather Online to retain its permit. The regulatory body had temporarily suspended Green Feather’s license, forcing them to halt operations.
The MGA stated that Green Feather violated some of Malta’s gambling regulations.
But the MGA lifted the suspension because Green Feather responded swiftly and cooperated with them.
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