Malta Cancels Arabmillionaire's Gaming License

Today the Malta Gaming Authority announced that it has canceled the gaming licence of the betting site Arabmillionaire due to the company's failure to abide by regulations put into place by the MGA.

The group's licence was suspended last year and the company was warned that if it did not begin abiding by the terms of its licence that it would be canceled. This was due to failure of payment on the licence, as well as breaching other conditions related to complying with MGA's orders.

Arabmillionaire said that it was going to be restructuring its business model and asked for the licence to be frozen last year so that they could get the operation underway. Unfortunately, the MGA says that Arabmillionaire hasn't done anything to change the issues at hand, and that their day of reckoning is here (okay, maybe we dramatised that bit).

The MGA is ordering Arabmillionaire to pay €25,000 for licencing fees from June 13th, 2022 until June 12th, 2023 as well as an additional €25,000 for this year's licencing fees. Those funds are due within five days of the cancellation notice being posted. Additionally, the company has to provide players on how to access their funds, and funds need to be paid out in five working days. Failure to comply may result in criminal action against Arabmillionaire.

Arabmillionaire hasn't issued a statement on the matter as of press time. Casino Listings News will update players as relevant information is released.