MGA issues new guidance relating to license returners

MGA has issued a new directive relating to License Surrender. The purpose of this guide is to provide a clear overview of the expected requirements and procedures related to License Surrender. Mainly related to: 파친코

  • The exact date and time when the authorized person has suspended or should stop the new business;
  • Licensee plans to take further action against license waiver, but not limited to, a timeline detailing how outstanding transaction balances, including funding and ongoing jackpots, are duly resolved by the Licensee;
  • The reason the licensee decided to waive the license.

As part of the licensing agreement application process, the licensee shall pay the authorities in accordance with the Game License Fees Regulations and Game Tax Regulations. Licensees will also have to go through a data extraction exercise as the license agreement review proceeds.

Licensee must submit a ‘License – License Surrender’ application made through LRMS and must be notified at least 20 days in advance.

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