This week the Maltese gaming license of betting group BetElephant by the Malta Gaming Authority, due to the group failing to submit financial statements for 2019.
It appears that BetElephant is in dire financial straits, as the BetElephant domain is for sale and the group's other brand Spartabet is offline. The MGA says that BetElephant must honor bets that were placed and refund players that have funds in their accounts.
The decision will also mean that both groups can't offer their services, but it appears that won't be an issue.
No comment from any party was available.