Arabian Millionaires License Revoked by Malta Gaming Commission

The Malta Gaming Commission (MGC) has rescinded the operational permit of internet gaming enterprise, Arabian Millionaires.

This measure was taken by the MGC following the firm’s inability to remit its licensing charges for two successive months, a blatant violation of its licensing contract. Arabian Millionaires was provided a 23-day window to contest the ruling but chose instead to seek a license deferment while it managed “unresolved issues.”

Notwithstanding numerous compliance infractions, the MGC approved the company’s request for a provisional suspension on October 12, 2022. This was meant to furnish Arabian Millionaires with a chance to clarify its circumstances and rectify the problems.

Nevertheless, the MGC indicated that Arabian Millionaires neglected to engage substantively during the suspension timeframe and did not settle the outstanding licensing payments. With the business now in arrears on licensing charges for 2022 and 2023, the MGC made the determination to annul Arabian Millionaire’s operational permit.

The firm is in deep trouble with the Maltese gaming regulator and could face severe repercussions. The company has been directed to permit customers to retrieve their funds and furnish explicit guidance on the process. Moreover, they have a backlog of outstanding payments (a substantial sum of €50,000!) that they are required to remit to the MGA promptly.

Although the business might attempt to challenge the regulator’s ruling legally, they remain accountable for their commitments. Failure to comply and settle their dues could result in further entanglement with legal authorities.