The Malta Gaming Authority (MGA) has cancelled Tipster Limited’s licences in the country after the business was recently wound up.
The regulator in July suspended Tipster in response to the winding up order and is now proceeding with full cancellation. This, the MGA, said was the most “appropriate” measure.
Tipster must now notify all players of the cancellation and settle outstanding fees with the regulator. The sports betting operator is also ordered to remove any reference to MGA licensing from its websites.
All licence cancellations and suspensions in Malta are open to appeal.
Tipster faces insolvency proceedings
The licence suspension and subsequent cancellation come after insolvency proceedings were launched against Tipster in June. Dr Jörg Gollnick was appointed as its provisional insolvency administrator.
Gollnick is also the provisional insolvency administrator for Tipster Service GmbH, part of the Tipster group. At the time, Gollnick said the restructuring hinges on the..