The Malta Gaming Authority has officially issued a Notice of Cancellation to Oddsfly Limited, a gaming company operating under licence number MGA/B2C/260/2014. This decision follows a series of regulatory breaches and financial delinquencies remaining unresolved since 2018. The cancellation was made under Regulation 12 and in terms of regulation 8 (1) (f) of the Gaming Compliance and Enforcement Regulations (S.L. 583.06). The MGA cited specific financial violations and broader governance concerns as grounds for this decisive enforcement action.

Unpaid Licence Fees and Compliance Contributions

Oddsfly Limited was found in breach of Regulation 3 (1) (b) of the Gaming Licence Fees Regulations (S.L. 583.03) for failing to pay annual licence fees for three consecutive years: 2018, 2019, and 2020. The total outstanding amount for these unpaid fees stands at €75,000. Additionally, under Regulation 3 (1) (a) and Regulation 6, the company failed to remit compliance contribution fees amounting to €29,814.52, which had accrued up to August 6, 2018. 

These amounts remain due and payable to the Authority. According to the MGA, these continued failures to meet financial obligations have significantly violated the terms of the issued licence. Aside from the unpaid fees, the MGA considered a variety of other regulatory breaches in deciding to cancel Oddsfly Limited’s licence. These included failure to comply with legal and regulatory obligations, inability to discharge financial responsibilities, and signs of bankruptcy.

Settlement and Further Enforcement Warnings

As part of the notice of cancellation, Oddsfly Limited has been directed to settle the total outstanding amount of €104,814.52 without further delay. The MGA has also indicated that interest will accrue on this amount until the debt is fully paid, in accordance with the applicable rates outlined in the Income Tax (Interest Rate) Rules (S.L. 372.28). 

Furthermore, the authority warned that failure to submit representations or stabilise its financial and regulatory position will result in further enforcement actions, including the finalisation of licence cancellation and possible legal proceedings. The Authority retains the right to pursue additional regulatory or judicial measures if necessary.

Regulatory Integrity and Industry Impact

This enforcement action underlines the MGA’s commitment to upholding high standards of accountability and compliance within Malta’s gaming sector. The Authority has reiterated that licensed operators are expected to meet their financial and operational obligations to preserve the integrity and sustainability of the industry. 

The cancellation of Oddsfly Limited’s licence is a strong message to other licensees about the consequences of persistent regulatory non-compliance. The MGA affirmed it will take firm action against operators who fail to meet obligations or disregard regulatory requirements.