The MGA has decided to cancel the authorisation awarded to The Daily Fantasy Football Company LTD (MGA/B2C/384/2017) effective as of 6 February 2020 in terms of regulation 10 of the Gaming Compliance and Enforcement Regulations (S.L. 583.06) hereinafter “the Regulations”.
The Daily Fantasy Football Company LTD is thus no longer authorised to carry out any gaming operations, register new players or accept new customer deposits, but is required to retain and provide all registered players with access to their player accounts, and to refund all funds standing to the credit of players in line with the applicable law.
This sanction is being imposed upon The Daily Fantasy Football Company LTD for having breached the following paragraphs of regulation 9 of the Regulations as per details shown hereunder:
i) The authorised person has failed to meet commitments to players in a timely manner, or the Authority has reason to believe that such failure is imminent following the €3,483.89 liabilities incurred by the Authorised Person towards player funds;
l) The Authorised Person has failed to pay in a timely manner all amounts due to the Authority – specifically the Authorised Person failed to pay the relevant tax, compliance and true-up alignment contributions.
This decision may be subject to an appeal in terms of article 43 of the Gaming Act (Cap. 583).