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 operator’s value.
Not long after, Germany’s gambling regulator Gemeinsamen Glücksspielbehörde der Länder (GGL) withdrew Tipster’s sports betting licence.
GGL did not disclose the reasons for the withdrawal but did state the decision was made to ensure player protection. It added that was no longer guaranteed with Tipster.
Prior to this, German tabloid Bild reported raids had taken place at Tipster’s headquarters in Cologne.
Police at the time did not confirm where the raids were targeted, but did state they related to an investigation into an unnamed sports betting operator.
This came after a lengthy investigation into alleged criminal activities. These include offering illegal gambling and forming a criminal organisation, with a total of six people being arrested during the raids.
Other operators face cancellations in Malta
Tipster becomes the latest operator to have its licence cancelled or suspended in Malta in recent months.
The MGA cancelled EGMIT Elite Limited’s B2C gaming service licence. EGMIT Elite operated its Elite24bet site via the licence and has had to halt all operations.
This month, the MGA also suspended SFJL Holding Limited’s licence over certain breaches. These included rules related to material changes within the business and a requirement to notify the regulator of these changes.
At the time, the MGA said Green Feather breached several sections of the country’s gaming compliance and enforcement regulations.
However, the MGA lifted the suspension, highlighting “prompt action and cooperation” from the operator.