The Malta Gaming Authority (MGA) has imposed a €2.34 million financial penalty to Blackrock Media Limited for operating a gaming service without the necessary authorisation. Silvio Schembri, Parliamentary Secretary for Financial Services, Digital Economy and Innovation, has said "that this is the highest fine ever issued by the MGA".
The joint investigations carried out by the MGA and the Malta Police Force determined the company was operating a gaming service through a Maltese legal entity without having the necessary authorisation and was processing payments to and from players as part of the unauthorised gaming service.
The fine was paid by Blackrock Media in terms of a settlement reached with MGA in compliance with the Malta Gaming Act 2018. Mr. Schembri welcomed the result saying "it is clear proof of the Maltese Government's commitment in implementing the recommendations put forward last year by the MONEYVAL Report" and affirmed that "the gaming industry is an important element of our economy" which must be maintained and strengthened to "retain the title as Home for Gaming Excellence" as the industry continues to grow.
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