Genesis Global Limited, a mobile-first international gaming company, has had its license officially canceled by the Malta Gaming Authority (MGA). This makes them the 3rd operator to have its operations suspended in Malta due to violations of the Gaming Compliance and Enforcement Regulations. The company managed several sites under its license, including Casinojoy.com, Genesiscasino.com, Sloty.com, Spinit.com, and Vegasoo.com.

The MGA has ordered Genesis to repay any unpaid payments to players and the MGA within 7 days of the cancellation order, which was issued on January 11. The company’s license was initially suspended in January 2023, with workers receiving insolvency letters a month prior.

Rush Gaming, which operates Onebet.com and Fansbet.com, has also been ordered to stop all B2C operations in the region following the cancellation of its professional relationship with Betago. These actions are part of the MGA’s broader strategy to promote secure gambling environments and comply with global gambling standards.

In 2021, Genesis faced regulatory trouble in the UK regulated market, resulting in a £3.8m fine and additional licensing conditions imposed by the UK Gambling Commission for “significant social responsibility and anti-money laundering failures.”

The Malta Gaming Authority is responsible for guiding and facilitating the application process, ensuring game and device integrity, protecting minors and vulnerable persons, safeguarding player funds, licensing and regulating gaming operators, protecting player rights, and monitoring activities to prevent criminal involvement. While the MGA cannot compel operators to return lost stakes, it does offer assistance in enforcing deposit money and real winnings and resolving disputes between players and licensees when necessary.

By admin

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