Stripped of license
The Malta Gaming Authority (MGA) has revoked the operating license of The Daily Fantasy Football Company (DFFC) for breaching several paragraphs of rule 9 of the Gaming Compliance and Enforcement Regulations.
directed to provide current players with access to their accounts to withdraw any remaining funds
The regulator’s decision means the fantasy sports operator can no longer offer wagering services. Its operations have been shut down and the company has been directed to provide current players with access to their accounts to withdraw any remaining funds.
Details of the termination
Last week, the DFS company could no longer offer operations in Malta. New players can no longer register at the site. New customer deposits are not allowed. For registered players, the firm must provide access to gaming accounts. The company must refund all current payments based on local laws.
The reason for the Malta operating license termination is due to the MGA finding the company guilty of being in breach of gaming regulations. More specifically, regulation 9 of the Gaming Compliance and Enforcement Regulations.
The MGA also stated the company failed to pay the amounts due to the Authority in a timely manner. Specifically, the company did not pay their relevant tax, compliance and true-up alignment contributions.
Shutting down services
The DFS company provides Malta residents with two websites; Thefantasyfootball.com and Playthesix.com. The company shut down both sites and commented to players:
Thanks for your support and thank you for players with us throughout the years! We wish you all the best.”
The daily fantasy sports firm first entered Malta in 2017. With the recent decision by the MGA, the company can choose to appeal the decision.
Blackrock Media penalty
The action against The Daily Fantasy Football Company is one of several completed by the MGA in recent weeks.
As reported on VSO News in early January, the MGA fined Blackrock Media Ltd €2.34m ($2.6m). The regulator set the penalty due to a settlement agreement. Blackrock Media paid the amount immediately.
The fine was based on a violation of the Maltese Gaming Act, within Article 25. The company reportedly operated a gaming service via a Maltese legal entity without having the necessary authorization. The MGA authorized the penalty after a joint investigation took place involving Blackrock by the MGA and executive police of Malta.