By virtue of the first proviso to Regulation 12 and in terms of reg. 8 (1) (f) of the Gaming Compliance and Enforcement Regulations (S.L. 583.06) (hereinafter the ‘Regulations’), the Malta Gaming Authority (hereinafter the ‘Authority’) hereby notifies this Notice of Cancellation (hereinafter the “Notice”) to Oddsfly Limited (hereinafter the “Authorised Person”) in relation to its licence bearing reference number MGA/B2C/260/2014.

The Authority has determined that the Authorised Person has committed the following breaches of its regulatory obligations, which warrant the issuance of this Notice in accordance with regulation 10 (1) (a) and (b) of the Regulations.

1. Breach 1 – Regulation 3 (1) (b) of the Gaming Licence Fees Regulations (S.L. 583.03).

The Authorised Person failed to pay the annual licence fees for the years 2018, 2019, and 2020, amounting to a total of seventy-five thousand Euro (€75,000). This amount remains due and payable to the Authority.

2. Breach 2 — Regulation 3 (1) (a) and Regulation 6 of the Gaming Licence Fees Regulations (S.L. 583.03).

The Authorised Person failed to remit the applicable compliance contribution fees amounting to twenty-nine thousand, eight hundred and fourteen Euro and fifty-two cents (€29,814.52) and did not comply with the applicable deadline for payment as established under reg. 6 of the Gaming Licence Fees Regulations. This amount accrued up to 6 August 2018 and remains due and payable to the Authority.

In accordance with Regulations 9 (1) (c), (d), (f), (g), (l) and (m) of the Regulations, the Authority has also taken into consideration the following grounds in reaching its decision:

• The Authorised Person has failed to comply with one or more applicable obligations in terms of any regulatory instrument or any other applicable law of Malta;
• The Authorised Person has failed to discharge financial commitments for its operations;
• The Authorised Person is bankrupt, insolvent or is being wound up;
• The Authorised Person applies for an order, or is compelled by any means or for any reason, to discontinue or to wind up its operations;
• The Authorised Person has failed to pay in a timely manner all amounts due to the Authority; and
• The Authority, in its sole discretion, has determined that there is material and sufficient reason for suspending the authorisation.

For all intents and purposes, the relevant authorisation was suspended on 7 August 2018 due to material breaches of regulatory obligations. Following a comprehensive assessment, the Authority is now satisfied in terms of both reg. 10(1) (a) and (b) of the Regulations, that the cancellation of the authorisation is the most appropriate measure and that the circumstances which gave rise to the suspension cannot be rectified.

The Authorised Person is further directed to settle all outstanding amounts due amounting to one hundred and four thousand, eight hundred and fourteen Euro and fifty-two cents (€104,814.52) to the Authority without delay. In accordance with Regulation 6(4) of the Gaming Licence Fees Regulations, interest shall accrue on the outstanding balance at the applicable rate as established under the Income Tax (Interest Rate) Rules (S.L. 372.28), until full and final payment is affected.

Failure to submit representations within the stipulated timeframe and/or failure to regularise its position in accordance with the applicable legal framework, shall result in the Authority proceeding with the cancellation of the licence and any other enforcement measures as deemed necessary.

This Notice is issued without prejudice to any further regulatory or legal action which the Authority may pursue. The Authority expressly reserves the right to initiate any other proceedings, or enforcement measures it deems appropriate in relation to the outstanding dues owed to the Authority if the Authorised Person fails to rectify its position accordingly.