The Malta Gaming Authority confirmed on 16 January 2023 that it is suspending licence MGA/CRP/314/2025 awarded to Genesis Global, effective immediately. The MGA stated that Genesis Global is no longer authorized to offer casino gaming, register new players or accept deposits, while termination proceedings will start in February 2023.
The Malta Gaming Authority (MGA) also confirmed investigating reports of outstanding withdrawals of players and that all player accounts are frozen. iGamingNEXT reported a week ago that multiple withdrawals may still be pending across the Genesis online casinos, including casino sites previously regulated and licenced by the UKGC, SGA, and MGA. All withdrawal requests are processed manually and since the announcement of insolvency leading to Genesis’ inability to pay wages, there are no staff available to work on the processing of pending withdrawals.
Proceedings to Take Place in the Maltese Courts in February 2023
A spokesperson for the MGA confirmed that all funds in accounts are frozen in close collaboration with financial, payment and credit institutions that serviced the Genesis Global. All further actions remain pending on the outcome of the dissolution proceeding set for February.
The Swedish Gambling Authority (SGA) reported that it had no information to share regarding the refunding of players since it doesn’t fall under the SGA regulatory remit. Although, players waiting for outstanding claims are advised to get into contact with the Swedish Consumer Agency.
Initially, the Genesis’ Swedish site remained live, which appears now to be taken down. Meanwhile, the attempts to contact the Spanish Regulation of Gambling’s Directorate General by iGamingNEXT, continues to proof unsuccessful.
UKGC Suspended Genesis Global Licence a Year Ago
In looking back at the Genesis Global’ background and the build-up leading to MGA license suspension. In February 2021, the United Kingdom Gambling Commission fined Genesis Global £3.8 million after revealing money laundering and social responsibility failings, followed by suspension of its UKGC license.
Less than a year before an appeal by the operator got license suspension lifted in October 2020, while the UKGC warned that it would continue to review. The investigation soon led to discovery that revealed several failings, including failure to provide valuable responsible gambling guidance to a player spending more than £245,000 within three months, and several others.
In December, Genesis Global terminated around 150 of its employees based in Malta, while the closure of the Malta office also led to the termination of Genesis Bluebird employees based in Poland.
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