Date published: 09.01.2020
Blackrock Media Limited fined €2,34 million by the Malta Gaming Authority
The year 2020 starts with a fine issued by the Malta Gaming Authority to the Malta-based company Blackrock Media Ltd, who have been offering gaming services through a Maltese company without having obtained the necessary authorisation from the regulatory body.
The €2,34 million fine was paid on the 9th of January 2020 in terms of a settlement with the authority, and it's the highest fine ever issued by the MGA. The fine was to set an example to companies who process payments to and from players and offer gambling services without authorisation license from the Maltese regulator.
Blackrock Media Limited is a Malta-registered company owned by Blackrock Media B.V. which is registered in the Netherlands Antilles and licensed for gambling activities by Curacao eGaming.
Although the company never claimed to be in possession of a Maltese license, a company registered in Malta cannot offer gambling services without a license from the country's regulator.
Committed to improving regulations
This fine shows that the Maltese regulator is committed to improving the enforcement of their regulations. The investigation was carried out in collaboration of the Maltese Enforcement Police and the Malta Gaming Authority. With this the MGA is implementing the recommendations from the last MONEYVAL report, which called on the Maltese authorities to strengthen and tighten their anti-money laundering and terrorism funding provisions.
Playing at Malta-licensed casinos
The Malta Gaming Authority is one of the European regulators who issue licenses to operators who wish to offer regulated gambling in Europe. The regulator has a somewhat good reputation, but there is room for improvement, which was criticised in the MONEYVAL report. There are hundreds of online casinos with a Malta license, and they have to fulfil strict conditions to keep the license.
The authority's regulations are not as strict as those from the UK Gambling Commission or the Swedish Spelinspektionen for example, but they offer more player protection and security than the Curacao regulator.