The Malta Gaming Authority (MGA) has announced the cancellation of Arabmillionaire Limited’s authorization due to overdue licence fees. Despite being given a 23-day appeal period, Arabmillionaire chose to have its licence frozen instead, hoping to resolve the outstanding issues. Unfortunately, Arabmillionaire did not take the necessary steps to rectify the situation or cooperate with the MGA.

As a result, the MGA suspended Arabmillionaire’s licence, granting the company an opportunity to address the situation. However, Arabmillionaire failed to do so and communication became fruitless. Apart from the outstanding licence fees, the company also owed the MGA its 2023 licence fee.

Consequently, the MGA has decided to cancel Arabmillionaire’s licence. The company is now obligated to inform its players of the situation and ensure that all current players can withdraw their funds. Additionally, Arabmillionaire must submit a transaction report and settle its outstanding fee of €50,000 ($52,820) within five days.

Arabmillionaire has the option to appeal the MGA’s decision by taking the case to the Administrative Review Tribunal. However, it should be aware that law enforcement may intervene if it fails to make the overdue payments.

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