MGA Promptly Denied Links to Italian Mafia Kingpin Ricci

Article by : Milena Petrovska Feb 8, 2024

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The Malta Gaming Authority (MGA) has released an official statement in which it distanced itself from Antonio Ricci, a mafia kingpin connected to the ‘Ndrangheta mafia. The regulator noted that Ricci had no connection to the MGA and that he was not part of any structures licensed by the entity.

This official statement from the Authority comes days after the so-called Operation Galaxy seized assets worth €400 million. The operation focused on cracking down on a criminal scheme involving companies registered in Malta and iGaming services.

MGA is Open to Cooperation and Has Nothing to Hide

MGA’s statement was very short and concise.

Apart from denying any link to Ricci, the Authority noted that it cooperated with local and international law enforcement agencies and that it had nothing to hide. The statement clarified that Antonio Ricci had no connections with the MGA. Moreover, supposedly, he didn’t have any ownership structures in MGA-licensed gaming companies.

It also strongly bashed media sectors that connected the Authority with the investigation. As mentioned, the operation ended up seizing millions of euros from a major criminal organization in various assets.

As a final note, MGA said that it would “monitor any further developments.”

Operation Galaxy Seized More than €400 Million in Assets

The operation against the ‘Ndrangheta mafia was named Operation Galaxy, and it uncovered the organization’s major illegal connection to the gambling industry.

Il Globo, an Italian newspaper, shared that the Italian Guardia di Finanza seized several assets that were linked to a company registered in Malta. Reportedly, the total value of the seized assets was over €400 million.

Ricci is at the center of this operation as he is believed to have established this criminal empire. According to the media, the roots of the organization were in Reggio Calabria and over time, it spread to Romania, Malta, Spain, and Austria.

Allegedly, online bookmakers entered agreements with the mafia as a way to strengthen their position in Calabria. In exchange, the mafia received a percentage of the profit. Not only that, but the entities managed to escape any potential taxes by transferring profits to foreign accounts.

In Italy, Ricci was able to escape the law by channeling his operation through a well-established organization. However, the company’s assets were seized in 2019, and Ricci was arrested under European regulations in 2020.

Il Globo reported that the €400 million in assets that the Italian Court ordered to be seized included two trust funds from Malta. Several financial portfolios, as well as three online gambling companies, were also seized.

Currently, a Special Public Security Surveillance Order of two and a half years threatens Ricci.

Showcasing Full Dedication to All Aspects of Responsible Operations, Including ESG

To increase its legitimacy and credibility, the MGA has kept a tight noose on licensed entities. At the start of 2024, the regulator revoked the licenses of several companies. Some notable mentions include Betago Limited, Rush Gaming Ltd., Genesis Global Limited, Winners Malta Operations Limited and Super7 Plus Limited.

Besides its constant work to improve its image locally and globally, the MGA is following the latest trends in iGaming and the world. With Environmental, Social, and Governance (ESG) principles dominating the narrative, the MGA has put “efforts to champion sustainability.”

Such an example is MGA’s initiative to plant a tree for every new employee. One of the first efforts included planting 17 trees at the Marsaskala Nature Trust Reserve. The deputy CEO and COO of MGA, Christopher Formosa, stated that the initiative was in line with the regulator’s dedication towards “fostering a more sustainable future.”