Closer Look at the MGA and the Oddsfly Case

We would like to thank a concerned whistleblower for bringing the Oddsfly case to our attention, helping us uncover what appears to be a troubling lapse in regulatory follow- through. On 29 May 2025, the Malta Gaming Authority (MGA) formally cancelled the gaming licence of Oddsfly Limited (C 57484). The reasons were clear: non-payment of annual licence fees dating back to 2018 and unpaid compliance contributions: Totalling over €104,814.52.

But what raised our eyebrows wasn’t just the overdue sum. It was the timeline.

Oddsfly Limited was struck off the Malta Business Registry (MBR) as defunct in December 2020. And yet, the MGA kept the company listed as licensed for years after that, only issuing its cancellation notice in May 2025, nearly five years later.

Even more striking is that the entity remained visible via the MGA’s Dynamic Seal interface as authorised, at least until this morning the 5 June 2025, according to our verification on the MGA website.

This situation invites reasonable questions:

• Why did it take seven years from the first missed licence fee payment in 2018 to a formal cancellation?
• Why wasn’t the company’s struck off status in the MBR detected earlier?
• What kind of KYC, verification or operational status review processes does the MGA carry out internally on licence holders?
• And perhaps more worryingly: How will the Authority now collect over €100K in fees from a non-existent corporate shell?

Connected Entities and Capital Questions

This isn’t just about Oddsfly. When we examined related companies, more questions emerged, especially regarding United Game Tech Plc (C 72557), which was struck off as defunct in June 2024, despite having an authorised share capital of €27,546,600.

The company’s listed officers and shareholders include:

• Gert Albers, Shareholder – Cormorant Wharf, Queensway, Gibraltar
• Mid West Consultancy DWC LLC, Shareholder – Dubai Aviation City, UAE
• Alexander Zucker, Director – Frankfurt am Main, Germany

Another name that appears frequently in Malta corporate structuring is James Scicluna, who, alongside David Sullivan, has held numerous roles as formation agent, director or company secretary across the jurisdiction.

The question must be asked:

What became of the €27 million in authorised share capital attributed to United Game Tech Plc? Was it fully subscribed and if so, what was the disposition of those funds?

Looking further, we find United Game Tech Management Limited (C 73406), struck off in April 2021, with Alexander Zucker again listed as Director, United Game Tech Plc as sole shareholder and James Scicluna acting as Company Secretary. The company was registered at the same Gzira address previously associated with the Oddsfly contact number.

Another related entity appears to be Digibet Limited (OC 1090), which held MGA licence MGA/B2C/263/2014. The company was struck off in October 2020 and its licence has since expired. The domain previously linked to this entity, digibet.com, is now operated by Aspire Global International Limited (now part of Aristocrat Interactive), a company known for providing white-label iGaming solutions.

These overlapping timelines, structural ties and corporate dissolutions point to a broader regulatory blind spot that merits further review, especially when public registers continue to lose traceability once a company is struck off.

 A Broader Issue of Recordkeeping

One final concern: why does the Malta Business Registry remove filings, officer data and financial records when companies are struck off?

Jurisdictions like the UK retain these records for historical transparency and public interest scrutiny. When Maltese company records vanish upon dissolution, it not only frustrates legitimate due diligence efforts, it also undermines public confidence in the integrity of the registry system itself.

We echo the words of our whistleblower:

“The MGA is considered a reliable regulator, but its internal processes need serious review. Licence requirements, capital verification and operational status checks appear inconsistently enforced.”

We will continue to investigate and publish responsibly as more information becomes available. Official MGA notice: https://www.mga.org.mt/notice-of-cancellation-of- authorisation-for-oddsfly-limited-c-57484/

FAQs

Why did the Malta Gaming Authority cancel Oddsfly Limited’s licence?
The MGA cancelled Oddsfly’s licence due to non-payment of annual licence fees and compliance contributions amounting to over €104,814.52 since 2018.

When was Oddsfly Limited officially struck off from the Malta Business Registry?
Oddsfly Limited was struck off as defunct in December 2020, yet remained listed as licensed by the MGA until May 2025.

Why was Oddsfly still listed as authorised on the MGA site until June 2025?
Despite being defunct, Oddsfly remained visible as an authorised operator on the MGA’s Dynamic Seal interface, indicating a lapse in internal checks.

How long did it take the MGA to cancel Oddsfly’s licence after the first missed payment?
It took the MGA seven years—from the first missed payment in 2018 to the licence cancellation in 2025—to act formally.

What is the main regulatory concern raised by this case?
The key issue is the MGA’s delayed response and lack of real-time due diligence, raising concerns about its monitoring of licensed entities.

Are other companies connected to Oddsfly involved?
Yes, companies like United Game Tech Plc, United Game Tech Management Limited, and Digibet Limited show overlapping directors and structuring ties.

What happened to United Game Tech Plc’s €27 million authorised share capital?
It’s unclear whether the capital was fully subscribed or what became of the funds, prompting calls for further financial transparency.

Who are some of the key individuals linked to these companies?
Notable names include Gert Albers, Alexander Zucker, and James Scicluna, who have held positions across several related companies.

What role does the Malta Business Registry play in this issue?
The MBR’s practice of deleting records upon company dissolution hinders transparency and undermines due diligence efforts.

What reforms are being suggested following this case?
The whistleblower and investigative findings suggest overhauling MGA internal processes and MBR recordkeeping to enforce stricter compliance and transparency.