We hereby inform the public of an important development: the Malta Gaming Authority has made the decision to cancel the authorisations previously granted to Tipster Limited. This decision, effective from September 5, has been deemed necessary as Tipster Limited is currently in the process of winding up its business.
In accordance with this decision, Tipster Limited is now obligated to inform all its players about the cancellation and settle any outstanding fees owed to the regulatory body. Additionally, the sports betting operator has been instructed to remove any reference to MGA licensing from its websites.
It is important to note that Tipster Limited retains the right to challenge this decision under Article 43 of the Malta Gaming Act.
It is worth noting that Tipster has not been operational in Malta since January 2023. The Malta Gaming Authority (MGA) has closely monitored the situation and discussions were underway regarding the voluntary surrender of Tipster’s MGA license. The recent announcement by the MGA suggests that Tipster’s licensing status in the jurisdiction has come to an end.
Tipster is now among the operators in Malta whose licenses have been canceled or suspended in recent months. EGMIT Elite Limited, for instance, had its B2C gaming service license revoked by the regulator due to breaches of gaming compliance and enforcement regulations.
In Germany, the Federal Gambling Authority (Gluecksspiel or GGL) also took action by revoking Tipster’s German-facing business license and removing it from the approved operators’ whitelist after raiding their offices.
Tipster has been subject to a comprehensive investigation by European law enforcement agencies regarding money laundering and tax evasion suspicions. As a result, the company has filed for bankruptcy.
The impact of the MGA’s decision on Tipster’s resource allocation and potential sale plans, which were ongoing despite the GGL’s revocation, remains uncertain. These plans involved collaboration with the Cologne law firm Heidland Werres Diederichs (HWD).