BetChance continues to operate with the LGA approval

While the deposit only bookmaker sent its customers a contract asking them to agree not to initiate legal action in exchange for a promise that the company will eventually pay the full balance it owes players within the next 2 years, and despite the fact that BetChance support has told everyone asking for assistance for the last 6 weeks to contact directly the LGA, the scam bookmaker continues to operate online proudly showing the Lotteries and Gaming Authority logo on its homepage.
If the LGA cannot force these scammers offline, how can players take any new bookmaker from Malta (and there\’ll be many in the coming months) seriously?
About the contract Betchance sent to players, it is important to mention the promise to pay comes from a company that has lied to its customers just about every day for the last 14 months (most recently it promised the contract to be delivered at the end of July and players received it 6 weeks later).
I guess that since Betchance is still allowed to operate online, I shouldn\’t be surprised the LGA also permitted the bookmaker to ask its customers to agree to not initiate legal proceedings of any nature in exchange for a promise to pay the money they already owe to them.
Why after more than 14 months of insolvence and failure to meet commitments to players Betchance is still operating online and taking deposits from players?