The MGA revoke Knockout Gaming’s License
The MGA has decided to cancel the authorisation awarded to Knockout Gaming Limited effective as of 16 September 2020 .
Knockout Gaming Limited is no longer authorised to carry out any gaming operations, register new players or accept new customer deposits, but is required to retain and provide access to all registered players to their player accounts, and refund all funds standing to the credit of players in line with the applicable law.
This sanction is being imposed upon Knockout Gaming for having breached the following article/regulation as per details shown hereunder:-
The Authorised Person failed to submit the applications of the Key Function by the stipulated deadline, in breach of regulation 51(1) of the Authorisations and Compliance Directive.
The Authorised Person failed to remit the Compliance Contribution fee on licence MGA/B2C/412/2017, standing at €20,044.35, for period June-November 2019 in breach of paragraph (b) of the third schedule of the Gaming Act.
This decision may be subject to an appeal in terms of article 43 of the Gaming Act (Cap. 583).