Multigioco SRL License Revoked by Gambling Regulator

The popular platform was issued a request to wind down its operations and had to comply within a 20-day deadlineImage Source: Shuttertock.com

Multigioco SRL, a respected operator, was served with a revocation notice by the Agenzia delle dogane e dei Monopolior ADM, Italy’s gambling regulator, ordering the company to wind down operations by August 20.

Details about the request were made public only after the fact, and the deadline had been met, ensuring that the operator would not face further difficulty in communicating the news with its players and wind down in a timely and orderly manner.

The regulator alleged that the operator had repeatedly breached its contractual obligation and undermined the relationship and trust between the watchdog and the operator. The watchdog has further alleged that there were other breaches, such as concession fees, costs, and non-compliance with tax demands, which have led to the decision.

The license loss is a significant step back for the operator, as Italy is a highly contested market and one that would be difficult to re-enter. On the flipside, the Italian regulator’s choice not to over-promotethe shutdown of a brand has been known to pay off, saving players and businesses unwanted attention and stress.

Multigioco Srl was sold by Elys BMG Groupto an unknown buyer last year, with the company maintaining a fairly small presence in the Italian market. With the months that followed, the company has seemingly not been able to handle the increasing regulatory and tax scrutiny, which has resulted in the latest measure.