Genesis Global Faces License Revocation by Malta Gaming Authority!

This move follows the suspension of Genesis Global's Malta license in January of the previous year. With the full cancellation, the operator, responsible for 23 websites such as Vegasoo.com, Sloty.com, Casinojoy.com, Spinit.com, and Genesiscasino.com, is no longer authorized to offer gambling under the permit.

The MGA, in response to the cancellation, has directed Genesis Global to settle all outstanding fees owed to the regulator within seven days of the cancellation notice issued on January 11. Moreover, Genesis Global must provide documentation to the MGA confirming the return of funds to all players across its network of websites, also within seven days. Additionally, the operator is required to eliminate any reference to the Malta license from its websites.

This cancellation aligns with the winding up of Genesis Global in December 2022. The company had terminated all employees just before Christmas, initiating insolvency proceedings and warning of potential difficulties in paying December salaries and notice pay.

The MGA, collaborating with the appointed liquidator at Genesis, is focused on facilitating the recovery of funds for players affected by the cancellation. Notably, the cancellation decision is open to appeal, according to the Malta regulator.

Genesis Global becomes the third entity this year to face cancellation or suspension of its Malta license. Rush Gaming, operator of Fansbet.com and Onebet.com, recently had its license suspended without detailed reasons provided by the MGA. Similarly, Betago had its license revoked, with the MGA instructing the return of all funds to players and the removal of any reference to the permit from its websites.