MGA Issues Blackrock Fine

The Malta Gambling Authority (MGA) has taken disciplinary action against a company registered on the island as it continues to crack down on illegal operations.

Blackrock Media Limited has been hit by a penalty of €2.4 million after it was found to be operating online betting services without having authorisation to do so.

Following an investigation carried out by the MGA and the local police authorities, it was discovered that the company was involved in accepting payments for providing an unlicensed gaming service, which is in breach of the Malta Gaming Act. The fine amount has already been paid.

Blackrock Media is part of the Blackrock Entertainment group, which is registered in Curacao. It runs an online betting site called Wild Sultan.

Speaking about the penalty, the Parliamentary Under Secretary for Financial Services, Silvio Schembri, said that it showed that the authorities in Malta are able to work together to protect the integrity of the island’s gambling industry:

“It should be noted that this is the highest fine ever issued by the Malta Gaming Authority, which proves the credibility and seriousness the authority operates with to safeguard the reputation of the Maltese jurisdiction in this field.”

Schembri went on to praise the collaboration and the professionalism of both the Malta Police Force and the Malta Gaming Authority. He also said that the disciplinary action is a demonstration of the government’s determination to implement recent recommendations, and that the integrity of the gaming industry on the island was vital to the Malta economy. Last year the European Union body MONEYVAL made a serious of recommendations for the Malta government in order to tackle money laundering and other forms of corruption associated with sectors of the Malta economy.

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