Updated | Government finding alternative work for 125 laid off by gaming company

Updated at 7:41pm with government statement

A gaming company has laid off all its Malta-based workers after initiating proceedings in court to be declared insolvent.

Genesis Global Limited has permanently closed its operations in Malta as a result of the insolvency, while all its workers have been declared redundant.

The company had already laid off several workers in recent weeks, sparking fears among company staff that they won’t’ be paid their December salary.

According to IGaming NEXT, workers were ordered to take all outstanding vacation leave.

Genesis Global Limited was fined £3.8m in January by the UK Gambling Commission and suspended from operating in Britain.

The company had already been suspended from operating in Britain back in 2020. However, the suspension was lifted three months later following “significant compliance improvements”.

The Commission continued with its investigation, which ended in a £3.8m fine, a warning, and an additional licence condition demanding further auditing.

The redundancies comes weeks after company co-founder and CEO Ariel Reem announced that he left the business in 6 December.

Lawyer and former MP Jason Azzopardi published the email sent out to employees on Friday informing them that they have been made redundant.

"Full and absolute solidarity with all the employees whose employment was terminated today (two days before Christmas) by a gaming company in Malta."

Alternative employment for laid-off workers

Economy Minister Silvio Schembri has commissioned Gaming Malta to help find alternative employment for those affected by the redundancy.

In a government press release, the ministry said that several workers have already found employment in the sector. The ministry is in contact with the company's executives through Gaming Malta to obtain a list of workers who have been made redundant, so that these workers can be contacted.

The iGaming Council, which was set up earlier this month, has also been informed of the situation. It will be assisting all affected workers.

The press release points out that there are around 700 vacant jobs in the iGaming sector. "Every possible thing is being done to make sure that the 80 workers affected today are prioritised."