Genesis Global has had its licence cancelled by the Malta Gaming Authority.
The company had its licence suspended last January after a troubling period.
In December 2022, it revealed it was to lay off 140 staff and that it would not be able to pay their wages that month.
The MGA has now gone one step further and cancelled Genesis Global’s licence. The regulator has ordered the company to settle all outstanding fees to the Authority within seven working days.
The MGA also wants a transaction report from Genesis Global’s back-end system alongside bank statements, showing proof that all funds have been returned to players.
The regulator is “actively collaborating with the appointed liquidator, assisting it where necessary in its endeavour to remit all player funds under the MGA Licence accordingly,” it said.
