Record MGA Fine Issued To Blackrock Media

The Malta Gaming Authority has issued a record fine on an unlicensed online casino operator as the tiny Mediterranean island nation is trying to repair its reputation after damning criticism that it has not been doing enough to tackle financial crime within its thriving online gambling sector.

The Malta Gaming Authority (MGA) said that it has issued a record €2.34 million penalty package to Blackrock Media Limited, a Malta-based online gambling company, for providing unauthorized services. The MGA said that it has imposed the penalty after joint investigations conducted by the regulator itself and the Executive Police discovered that the company “was processing payments to and from players as part of a gaming service which was not duly authorized.”

The regulatory agency also noted that the seven-figure penalty “has been paid in terms of a settlement” which has been reached with the MGA under Article 25 of the Maltese Gaming Act.

The €2.34 million fine slapped on the errant operator was the highest ever issued by the Malta Gaming Authority, which according to Mr. Schembri, Parliamentary Secretary for Financial Services, “proves the credibility and seriousness the authority operates with to safeguard the reputation of the Maltese jurisdiction in this field.”