MGA follows through and cancels Tipster.de licence

Tough times continue for Tipster.de as the company’s operating licence with the Malta Gaming Authority (MGA) was cancelled this week.

The company, which is headquartered in Cologne, offers betting and casino services on the island and in Germany, but has been ordered to follow three courses of action by the realtor.

Tipster must notify its customers of the cancellation, settle all outstanding fees due to the MGA and remove any reference to the regulator and its authorisations from its material. 

The firm has been unable to conduct MGA-licensed business since June 2023, as the regulator suspended its licence towards the end of that month due to its insolvency in founding market Germany.

In Germany, the Federal Gambling Authority, the Gluecksspiel (GGL), had also revoked the licence held by its German-facing business and removed it from the ‘whitelist’ of approved operators following a raid on the group’s offices. 

Tipster had been subject to a cross-continental investigation by European law enforcement due to suspicions of money-laundering and tax evasion, and the firm has filed for bankruptcy as a result.

It is unclear whether the MGA’s decision will prompt Tipster to abandon its ongoing resourcing and potential sale plans, which continued in the aftermath of the GGL revocation, in cooperation with Cologne law firm Heidland Werres Diederichs (HWD).