The Malta Gaming Commission (MGC) has rescinded the operational permit of Arabian Millionaires, an internet gaming enterprise, owing to their nonpayment of licensing charges for two straight months.
The MGC originally delivered a communication on August 4, 2022, granting Arabian Millionaires 23 days to contest the decision. However, the firm opted not to challenge and instead sought a postponement of their license to handle unresolved matters.
Although the MGC allowed the suspension, Arabian Millionaires neglected to rectify the problems or collaborate with the inquiry. It surfaced that the organization had also neglected to remit their license payments for 2023, signifying they were two years delinquent in payments.
Consequently, due to these persistent infractions, the MGC reached the determination to annul Arabian Millionaires’ operational permit.
A digital gaming firm, Arabmillionaire, has been instructed to be transparent with its users regarding its economic difficulties. The company has been given a five-day ultimatum by the Malta Gaming Authority (MGA) to settle €50,000 ($52,820) in unpaid dues and permit players to access their funds.
Furthermore, Arabmillionaire is required to furnish the MGA with a comprehensive account of its latest financial dealings. Non-compliance with these directives could result in legal repercussions for the company. Although Arabmillionaire retains the right to contest the MGA’s decision, they are nonetheless obligated to adhere to the MGA’s instructions or risk facing potentially graver consequences.