Goldwin Looses MGA Licence

The Malta Gaming Authority (MGA) has taken decisive action by suspending Goldwin’s gaming license due to multiple regulatory breaches. The suspension, effective as of September 25, 2024, prohibits Goldwin from offering any gaming services under its license, MGA/B2C/533/2018. Despite this, the casino is still operational, so it is advised that players avoid engaging with the platform.

Key Points of the Suspension:

• Player Protections: While Goldwin is no longer authorized to conduct gaming operations, the company is required to maintain access to player accounts and ensure all outstanding balances are refunded. This move prioritizes the safety and rights of players, adhering to Malta’s gaming regulations.
• Regulatory Breaches: The MGA’s decision stems from violations of multiple provisions under Malta’s Gaming Compliance and Enforcement Regulations (S.L. 583.06). These include actions deemed to pose a serious risk to players' interests, failure to comply with legal obligations, and delays in fulfilling financial commitments to players.

Specific Breaches Highlighted:

1. Regulation 9 (2) (b): This clause relates to actions that presented an imminent threat to the interests of players.
2. Regulation 9 (1) (c): Goldwin was found to have failed in complying with key legal or regulatory obligations.
3. Regulation 9 (1) (i): The company did not fulfill its financial commitments to players in a timely manner.
4. Regulation 9 (1) (m): The MGA determined that there were valid reasons to suspend the license based on the overall conduct of the company.

Goldwin’s Right to Appeal

Goldwin has the right to appeal the suspension under article 43 of the Gaming Act. However, until any appeal is successfully resolved, the suspension remains in effect.

Should Players Be Concerned?

Yes, absolutely. Although Goldwin is required by law to ensure player balances are refunded, the casino remains operational despite the suspension. This uncertainty presents a risk to players, and it’s advisable to refrain from playing or depositing at Goldwin until the situation is resolved. If you have an account or funds in the casino, it is critical to contact their support to retrieve any balances owed.

This case serves as a reminder to always check the licensing status of a casino before playing, especially with operators facing regulatory issues. As the MGA continues its oversight, ensuring player safety and upholding standards remains a priority.