Ganapati Limited, a B2B games supplier that held a licence by the Malta Gaming Authority, has surrendered its licence.

Reports by an industry portal, Casinobeats.com, stated that the licence was surrendered amidst rumours of an alleged investment scam and enormous debts.

Ganapati Limited held a B2B – Critical Supply Licence, enabling it to supply its products to other businesses in Malta. The revoked licence is viewable on the MGA’s website.

A report was also published by Japan’s The Toyo Keizai, claiming that a subsidiary of Ganapati Limited, GPJ Venture Capital, raised $150m in investments from elderly Japanese citizens over the phone, by inviting them to invest in the development of online casinos and crypto assets.