The plane was dispatched under the directives of President Sheikh Mohamed
uae1 day ago
Mahzooz, a popular raffle draw, has announced a temporary pause to its draws, it said in a statement to its subscribers on Sunday.
“Starting January 1, 2024, Mahzooz will temporarily pause operations in compliance with gaming regulations. This industry-wide mandate aligns with regulators' efforts to create a well-regulated gaming environment in the UAE,” said the statement.
The last weekly draw date was on December 30, 2023.
Stay up to date with the latest news. Follow KT on WhatsApp Channels.
The company updated its FAQ where it revealed that “no draws will be held after December 30, 2023 until further notice from the regulators.” However, the customers’ accounts will remain active allowing them to withdraw any outstanding balances in their Mahzooz account after this temporary pause.
Launched in 2020, Mahzooz has crowned 64 millionaires, giving away Dh500 million to over 1.8 million winners. In 2023 alone, Mahzooz made 33 people millionaires through its raffles.
People participating in the raffle need to purchase a water bottle for Dh35, with the product donated to those in need. Each purchase earns a participant one line in the Grand Draw, with a chance to claim life-changing winnings.
The gaming company said it is looking forward to resuming the draws “soon” – mostly likely in the first quarter of 2024 once it gets go ahead from the regulators.
“We genuinely appreciate your understanding during this short break… We appreciate your incredible support over the past three years. Mahzooz remains committed to transparency, responsibility and integrity in gaming,” said the statement.
In September 2023, the UAE set up a federal body – General Commercial Gaming Regulatory Authority – to regulate the gaming sector in the country. Veteran US gaming industry executive Kevin Mullally was named the chief executive.
ALSO READ:
The plane was dispatched under the directives of President Sheikh Mohamed
uae1 day ago
He starts by talking about the UAE and how, ideally, all investors should make it their "priority" to invest in the Emirates.
uae1 day ago
The road will be partially closed from May 19 to June 9
uae1 day ago
One station is scheduled to return to service next week, after 'all necessary maintenance and testing jobs have been completed'
uae1 day ago
Individuals that are physically active tend to ignore mild pain, considering it a normal part of exercise or sports
uae1 day ago
The campus is set to become the largest dedicated hub for AI and technology companies in the Middle East and North Africa
uae1 day ago
The fund is designed to finance the production of artistic and creative works in film, music, performances, and video games
uae1 day ago
This inclusive community service is available daily on Al Hamriya Beach from 6.00am to sunset
uae1 day ago