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The Malta Gaming Authority (MGA) has announced the suspension of Genesis Global Limited's licence, following months of difficulties for the operator and sparking a government response to protect the company's former employees.
The suspension came into effect a day prior (January 16) to the announcement.
The decision to suspend the company’s licence means Genesis is no longer authorised to carry out any gaming operations, register new players or accept new customer deposits, and must continue collaborating with the MGA.
The company can appeal the MGA's decision.
Last year, Genesis Global, which had its licence suspended for several months in 2020, was fined £3.8m by the UK Gambling Commission, given a warning and ordered to undergo further extensive auditing.
On December 6, 2022, Genesis shut down all of its UK sites.
Genesis had also previously been fined SEK4m (€397,000) by Swedish authorities in March 2019 for not being properly connected to Spelpaus, the national self-exclusion register, for nine days, before having the fine reduced by the Administrative Court of Appeal in Jönköping in 2021.
Just before Christmas last year, the company laid off more than 140 of its Malta-based staff, stating that it would “permanently close its operation in Malta".
The company warned its employees that it “may not be able to pay all or any of the dues that are due to you in terms of law”.
“We are currently trying our best to find a solution to this issue by trying to raise some funds, and in addition, we hope to liaise with the authorities concerned in order to ease the burden and find alternative solutions in order for you to be paid at least some of the money due to you,” the email to staff members read.
The Maltese government has even had to get involved in the situation, quickly pledging to get the non-profit Gaming Malta Foundation to help them seek immediate alternative employment.
